Jun 25, 11:35 PM

eFFECTOR Therapeutics to Wind Down Operations, Delist from Nasdaq, Ginkgo Bioworks to Lay Off 35% of Workforce

eFFECTOR Therapeutics announced it will wind down operations and seek strategic alternatives, resulting in a 73.5% drop in pre-market trading and an expected delisting from Nasdaq. The company has also laid off staff as part of this process. Meanwhile, Ginkgo Bioworks plans to lay off 35% of its workforce, including 158 employees in Cambridge, Massachusetts, and 35 in Emeryville, California. The Boston-based life sciences firm is cutting costs in response to plunging revenues.

#eFFECTOR Therapeutics #Nasdaq #Ginkgo Bioworks #Cambridge #Massachusetts #Emeryville #California #Boston

Written with ChatGPT (GPT-4o).

Sources

Albert Vilella@AlbertVilella
2 years ago
Ginkgo Bioworks $DNA 35% RIF, including 158 employees based in Cambridge, Massachusetts, who will be laid off at the end of the year, and 35 based in Emeryville, California, who will be laid off in August according to notification filed with the respective states. https://t.co/I8LhPy2g76
SFGATE@SFGate
2 years ago
Calif. biotech company that raised $325 million shuts down, lays off every remaining worker https://t.co/3CUPaVv8WM
The Boston Globe@BostonGlobe
2 years ago
Ginkgo Bioworks said it would lay off more than one-third of its workers as the Boston life sciences firm slashes costs in the face of plunging revenues. https://t.co/2GBBREQdm8

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eFFECTOR Therapeutics to Wind Down Operations, Delist from Nasdaq, Ginkgo Bioworks to Lay Off 35% of Workforce

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