AM I NEXT? NO LOVE AT KALEIDO

Lexington, Massachusetts-based Kaleido Biosciences, a clinical-stage biotech company with a differentiated, small molecule approach to treating inflammatory conditions and diseases, has announced the cessation of operations and termination of all employees.

According to the company's filing with the Securities and Exchange Commission, "On April 8, 2022, the Board of Directors, voted to immediately wind down and cease all of the Company’s ongoing operations. In connection with the cessation of activities, the employment of all of the Company’s remaining employees was terminated effective immediately.

As previously announced, the Company had initiated a strategic process, in an attempt to maximize shareholder value and engaged professional advisors, including an investment banker to act as a strategic advisors in the process.

Unfortunately, the strategic process did not result in the identification of any viable transactions, and given its limited remaining resources, the Company cannot continue operations and believes that the best alternative is an orderly wind-down process.

The Company is evaluating additional details regarding the wind-down, and will provide further information when available."

Prior to shut down, the company Kaleido voluntarily delisted itself from Nasdaq.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT ADAPTIVE BIOTECHNOLOGIES

Seattle, Washington-based Adaptive Biotechnologies, a developer of immune system testing equipment and protocols, has announced a major twelve-percent reduction in its workforce which will impact approximately 100 employees,

According to a company spokesperson, "Adaptive is undergoing a reorganization to focus on two key business areas, minimal residual disease (MRD) and immune medicine. As part of this process, we are deprioritizing projects and programs that are no longer aligned with the goals of the two business areas. We have made the hard decision to streamline our workforce. Given current market conditions affecting Adaptive and the biotech industry more broadly, we needed to ensure we had enough flexibility to meet our medium- to long-terms goals."

"We are sad to being parting ways with our team members but believe these changes will set us up for success and growth. Our team is doing everything possible to support their transition, including a comprehensive exit package. The Seattle biotech market is intimate and our executives and remaining employees will be doing everything they can to help our departing colleagues network.”

CEO Chad Robins noted, "Ensuring we have the capital and the resources to fuel our growth while navigating turbulent market conditions has resulted in the need to make hard choices. After a comprehensive review, it became clear that we had to cut operating expenses, deprioritize certain projects and programs, and make significant adjustments to expenditures on capital projects.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT YUMANITY THERAPEUTICS

Boston, Massachusetts-based Yumanity Therapeutics, a clinical-stage biopharmaceutical company focused on therapeutics for neurodegenerative diseases, has announced that it is "exploring strategic alternatives with the goal of enhancing shareholder value."

Translation: the company is in financial difficulty and is for sale. As part of a cost-containment initiative, the company is restructuring and anticipates eliminating approximately 60% of its workforce with the separations being completed by April 2022.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?