Weight loss spin­out Gele­sis ditch­es pro­mo­tion­al staff af­ter SPAC fail — re­port

As biotech stocks con­tin­ue to tum­ble, a Boston-based com­pa­ny strug­gling to gain a foothold in the noisy weight loss mar­ket is the lat­est to bring out the bud­get axe.

Gele­sis has re­port­ed­ly laid off around 140 con­trac­tors hired to pro­mote its weight loss cap­sule Plen­i­ty, ef­fec­tive to­day ac­cord­ing to the Boston Globe, which broke the news. The move comes on the heels of a dis­ap­point­ing SPAC merg­er, which brought in sig­nif­i­cant­ly less cash than the PureTech spin­out was ini­tial­ly count­ing on.

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