Biotechs reveal layoffs, research revamps in third quarter earnings

Third quarter earning reports have brought news of layoffs from at least six biotechnology companies this week as a weak market continues to weigh on smaller drugmakers.

Through Wednesday, Tricida, Freeline Therapeutics, Harpoon Therapeutics, Adamis Pharmaceuticals, Neoleukin Therapeutics and NexImmune have all announced workforce reductions. The cuts range from 30% of employees at NexImmune to 57% of staff at Tricida, putting scores of workers out of a job.