Kronos cuts 83% of staff, plots CEO change

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Today’s Big News

Nov 27, 2024

Trump picks Jay Bhattacharya, Stanford economist and pandemic policy critic, as NIH director


PTC axes utreloxastat program after phase 2 ALS failure


Kronos to lay off 83% of workforce, change CEOs after mothballing lone clinical asset


Idorsia teases Tryvio global licensing deal while planning to lay off 270 staff


PTC sells priority review voucher from Kebilidi approval for $150M


Outlook's stock plummets after eye drug fails to match Lucentis, but biotech still plans FDA filing


Acadia nabs rights to Saniona's tremor asset in $582M biobucks deal


EQBMED launches trial sites tool to assess performance and boost diversity


Most life sciences CEOs expect to grow their headcount over the next 3 years: KPMG survey

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Featured

Trump picks Jay Bhattacharya, Stanford economist and pandemic policy critic, as NIH director

President-elect Donald Trump has chosen Stanford University’s Jay Bhattacharya, M.D., Ph.D., to serve as the director of the National Institutes of Health.
 

Top Stories

PTC axes utreloxastat program after phase 2 ALS failure

PTC Therapeutics’ amyotrophic lateral sclerosis prospect has flunked a phase 2 trial, prompting the biotech to drop plans for further development of the drug candidate.

Kronos to lay off 83% of workforce, change CEOs after mothballing lone clinical asset

Kronos will lay off some 83% of its workforce by the end of the year as it continues to explore options to stay afloat, including “possible business combinations” or the divesture of remaining preclinical assets. Additionally, the company's CEO, Norbert Bischofberger, Ph.D., is stepping down from his post on Dec. 3.

Fierce 50 Awards Gala Honors Innovators and Leaders in Biopharma and Healthcare

Discover the trailblazers shaping the future of healthcare, biotech, and pharma at the Fierce 50 Awards Gala.

Idorsia teases Tryvio global licensing deal while planning to lay off 270 staff

Idorsia may have negotiated a $35 million payday ahead of a potential licensing deal for its hypertension drug Tryvio, but that won’t be enough to save the 270 roles the company is looking to cut.

PTC sells priority review voucher from Kebilidi approval for $150M

PTC Therapeutics may be reeling from the failure of its amyotrophic lateral sclerosis drug yesterday, but the biotech can console itself by counting the cash from the sale of its priority review voucher.

Outlook's stock plummets after eye drug fails to match Lucentis, but biotech still plans FDA filing

Outlook Therapeutics’ eye disease drug has failed to match Roche’s Lucentis in a key trial. The biotech brushed off the failure, noting positive details and vowing to seek FDA approval, but investors were less sanguine about the setback.

Acadia nabs rights to Saniona's tremor asset in $582M biobucks deal

Acadia Pharmaceuticals has penned an exclusive licensing deal worth up to $582 million biobucks for Saniona’s neurological disorder asset. 

EQBMED launches trial sites tool to assess performance and boost diversity

The academic-led, industry-partnered collaboration Equitable Breakthroughs in Medicine Development has released an assessment tool for clinical trial sites to evaluate their ability to perform diverse trials and chart out a path toward improvement in health equity.

Most life sciences CEOs expect to grow their head counts over the next 3 years: KPMG survey

A survey of life sciences CEOs found that 94% plan to grow their workforce over the next three years, with 37% envisioning that the head count of their company will grow by at least 6%. The results back up the confidence the CEOs have in their companies’ growth prospects.

With narcolepsy trial win, Axsome looks to revive former Pfizer antidepressant on the US market

The treatment, which was once a Pfizer antidepressant, reduced bouts of cataplexy and other narcolepsy symptoms in Axsome's ENCORE study.

Neuralink reports green light to study brain-controlled robotic arms

The company said it would allow severely paralyzed patients currently signed up to receive the implant through its PRIME safety trial to also cross-enroll in a new study, named CONVOY.
 
Fierce podcasts

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Meet 2024’s fiercest women in life sciences

This week on "The Top Line," Fierce editors discuss our special report celebrating 10 women driving change in clinical research, business development, venture capital, and more
 

Resources

Whitepaper

Single Cell RNA Profiling FFPE Tissue

Explore the robust cross-platform agreement between scRNA-seq and bulk RNA-seq, ensuring consistent and reproducible data on immune cell presence.
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Straight to Market in an Autoinjector

The use of prefilled syringes to administer biotherapeutics is beginning to gain traction because they offer a range of stability, efficacy, and patient safety benefits. Download this white paper to learn how Lonza has developed a novel workflow to ensure confidence regarding functionality in PFS and autoinjectors.
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7 “Make or Break” Factors for Emerging Biopharma Companies

This e-book explores 7 factors that are critical to the success of emerging biopharma companies, whether they plan to out-license, partner, or launch & commercialize products. It’s an essential resource for emerging companies with products in all stages of development.
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Planning for success in cell-based manufacturing

Learn how to evaluate quality documentation to help you select the right raw materials at early decision points for your cell-based manufacturing processes.
 

Industry Events

On Helix

Date: ‌4 ‌July ‌2024 ‌- ‌Location: ‌Babraham ‌Research ‌Campus, ‌Cambridge ‌UK

 

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