Tiny Apex­i­gen to lay off ma­jor­i­ty of work­ers af­ter SPAC deal

An­oth­er biotech is fac­ing in­dus­try head­winds and cut­ting more than half of its em­ploy­ees.

Cal­i­for­nia biotech Apex­i­gen an­nounced Mon­day morn­ing that it has con­tract­ed a fi­nan­cial ser­vices com­pa­ny to ex­am­ine po­ten­tial “strate­gic al­ter­na­tives” to max­i­mize share­hold­er val­ue, in­clud­ing a sale, a merg­er, li­cens­ing or oth­er types of trans­ac­tions. On top of that, the biotech is let­ting go 55% of its em­ploy­ees.

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