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Biotech companies are facing layoffs as cash runways remain precarious despite improved investor sentiment. Omega Therapeutics plans to lay off 39 employees, while many biotechs struggle to secure funds, with some experiencing workforce reductions.
Biotech stocks took a hit last year. Some are still being unfairly punished today. And according to @JoelLitman – founder of our corporate affiliate @AltimetryStock – that's setting up an atypical situation... and a rare buying opportunity ➡️ https://t.co/qDnVDqsed9 https://t.co/MCiQCSewdl
Biotech continues to be a story of the "Haves" and the "Have Nots", 353 (40%) of biotechs have less than 1 yr of cash, 278 (34%) have at least 2 yrs of cash runway, 115 biotechs raised more than $17 bil in Q1 with the megarounds going to...(1/X) 👇🧵 h/t @TimOpler @Stifel… https://t.co/rnevMMqbdt
More biotech RIF - many of the recent high valuation / large raise biotech super stars of yesterday are coming crashing back to earth recently when needing to go back to capital markets for funds. “Omega Therapeutics cuts 35% of workforce: The biotech had 93 employees at the…
