Reel­ing from FDA re­jec­tion, Be­yond­Spring ax­es 35% of US staffers in hopes of I/O come­back

It’s been a roller coast­er few months for Be­yond­Spring Phar­ma­ceu­ti­cals — and the New York-based biotech is now ask­ing a third of its staffers to alight the train ear­ly.

Be­yond­Spring is chop­ping its US work­force by 35%, with some of those em­ploy­ees be­ing as­signed to sub­sidiaries, in a move de­scribed as “or­ga­ni­za­tion­al stream­lin­ing” im­ple­ment­ed to “pre­serve long-term sus­tain­abil­i­ty.”

The low-pro­file biotech found it­self in a sud­den spot­light back in Au­gust af­ter re­leas­ing sur­pris­ing­ly pos­i­tive Phase III re­sults sug­gest­ing its off­beat ap­proach to im­munother­a­py could ex­tend the over­all sur­vival of non-small cell lung can­cer pa­tients. But the sky­rock­et­ing shares came crash­ing down a few months lat­er when the FDA re­ject­ed the same drug for a dif­fer­ent in­di­ca­tion, dash­ing its im­me­di­ate hopes for a mar­ket en­try.

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