Band of biotechs cut pipeline prospects to focus cash on priority programs

Preparing for a prolonged bear market, a raft of biotechs have decided candidates that looked good a few months ago are now an extravagance, leading them to pull back from the programs. Bolt Biotherapeutics, which canned assets to extend its runway into 2025, was one of list of biotechs that have announced pipeline changes since markets closed yesterday, including ProQR Therapeutics, Harpoon Therapeutics, Kala Pharmaceuticals and Synthetic Biologics.