Freeline Therapeutics will conduct More layoffs and a halt to work on an experimental gene therapy for the rare genetic disease Fabry are the second round of restructuring at the biotech company since last year.
This company is headquartered in A British gene therapy developer said on Tuesday it would cut about 30% of its staff and prioritize developing gene therapies for Gaucher disease, another rare disease. Freeline expects to announce preliminary clinical data from the program, called FLT201, in the third quarter.
Previously, Freeline was It reorganized in November, discontinuing an experimental hemophilia treatment, laying off about 30 employees and putting its German subsidiary up for sale. After the latest layoffs, the company will have about 65 employees, half of its headcount before last year's layoffs.
Surge in open markets Freeline's layoffs are just one of a growing number of restructurings, layoffs and other strategic moves that young drugmakers have taken amid the decline.
According to BioPharma Dive Statistics show that at least 56 biotechnology companies have announced layoffs this year. More than a dozen of these companies are developers of gene and cell therapies, and were particularly hard hit early in the industry's pullback.
Exit Fabry in Freeline The disease study follows a similar move by Avrobio last year. Currently, Sangamo Therapeutics is developing the most advanced gene therapy for Fabry disease. In February, Sangamo announced early data on its prospective treatment.
Freeline will now focus For the treatment of Gaucher's disease, especially patients with type 1 Gaucher's disease. The biotech is enrolling patients in an early-stage trial and expects to report preliminary data in the third quarter of 2023, the company said on Tuesday.
As of the end of 2022, The biotech company has about $47 million in cash and cash equivalents, down from about $117 million a year ago. With proceeds from the restructuring and sale of the German unit, the company now expects to be able to fund operations in the second quarter of 2024.
Freeline shares fell on Tuesday About 3%, to below $0.50 per share, losing almost all value since going public in 2020.
Articles are uploaded by users and are for non-commercial browsing only. Posted by: Lomu, please indicate the source: https://www.daogebangong.com/en/articles/detail/ji-yin-liao-fa-Freeline-gong-si-ting-zhi-le-Fabry-de-ji-yin-zhi-liao-gong-zuo.html
支付宝扫一扫 
评论列表（196条）
测试