Shrinking BridgeBio confirms layoffs, details out-licensing plans for its ‘restructuring initiative’
In the wake of BridgeBio’s Phase III fail for its lead drug late last year, the company has been tight-lipped about its “restructuring initiative.”
However, the company’s Q1 financial report outlines a significant shift for the biotech — fewer people, fewer buildings, and more out-licensing partners.
Just over a month ago, BridgeBio laid off a number of employees, though it would not specify exactly how many, Endpoints News reported. It also saw its chief strategy officer Cameron Turtle leave after just over a year in the position.
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