#biotech

#biotech

Concentra Biosciences is rapidly acquiring struggling biotech companies, taking advantage of Bay Area firms' difficulties, including its recent purchase of Cargo Therapeutics, which faced severe setbacks this year.

Colossal Biosciences claims to have restored the dire wolf, but in reality, they merely edited gray wolf genes, raising questions about species definition.

The market for these instruments has clearly evaporated due to government funding cuts, pushing Eikon to pause the development of advanced lab tools for researchers.

Elizabeth Holmes, despite serving a prison sentence for fraud, is supporting her partner's new medical startup, Haemanthus, which echoes the technology of Theranos.

Glycomine's progress towards delivering the first disease-modifying therapy for a rare genetic disorder was bolstered by a $115 million Series C funding round.

Vaxart announced layoffs after the U.S. government's work stop order on its COVID-19 vaccine trial, impacting its workforce and future viability.

AstraZeneca's $2.5 billion investment in Beijing aims to strengthen its research capabilities and move beyond recent controversies by fostering collaborations with local biotech companies.

Sutro Biopharma has reported over $785 million in losses without a commercial product, leading to staff cuts impacting around 150 workers and a shift in leadership.

ALX Oncology announced it is laying off about 30% of its staff to reallocate resources towards breast and colorectal cancer trials, extending its cash runway.

Cargo Therapeutics faced setbacks after halting a clinical trial due to subpar results and plans to lay off half its workforce to conserve cash.

Wegovy users, like Hannah, report significant reductions in alcohol cravings and consumption, prompting analysts to predict a shift in market dynamics for the beverage industry.

CytomX Therapeutics announced a significant layoff of 40% of its staff, primarily targeting general and administrative functions, to focus on clinical programs and improve cost flexibility.

Verdiva's CEO Khurem Farooq emphasized, "People living with obesity and its complications deserve better options at each stage of their treatment journey..." making a case for improved treatment alternatives.