Amid Waves of Biotech Layoffs, ADC Developers like ImmunoGen are Thriving

Anticipating a rejection of a key new drug application, Spero Therapeutics recently announced it will lay off 75% of its workforce. In April, Genocea Biosciences’ Phase I/IIa Titan study yielded disappointing results, so the company is terminating 65% of its employees. Similarly, Finch Therapeutics cut its headcount by 20% in April to refocus its product pipeline.