AM I NEXT? NO LOVE AT NEKTAR THERAPEUTICS (06/01/22)

JUNE 1, 2022 — 72 EMPLOYEE LAYOFFS IN HUNTSVILLE, ALABAMA

The company has announced 72 layoffs in Huntsville, Alabama with separations scheduled for June 26, 2022.

MAY 12, 2022 — Original post…

San Francisco, California-based Nektar Therapeutics, a biopharmaceutical using its proprietary process to develop drugs, has announced its plans to reduce operating expenses after the failure of its cancer drug partnership with Bristol Myers Squibb.

The cost-cutting initiative will impact 70% of the company's workforce or approximately 500 employees.

According to Nektar's CEO, Howard Robin, he was “shocked and devastated” by the latest drug trial in combination with a Bristol Myers Squibb drug. “This new strategic plan refocuses our entire company around specific and prudent investments into our most important pipeline programs, NKTR-358, NKTR-255 and preclinical candidates, each of which we believe presents an opportunity to create significant value for our shareholders."

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 BLUEBIRD BIO

Cambridge, Massachusetts-based Bluebird Bio, a biotechnology company specializing in gene-based biologics and therapies, has announced a cost-cutting initiative following a review of its strategic priorities. The company is also considering other options to raise cash, including equity financings and selling any priority review vouchers it hopes to get with upcoming FDA approvals.

The restructuring will impact 30% of the Bluebird Bio workforce, approximately 360 employees.

According to company CEO Andrew Obenshain, "Today, we are taking decisive action to extend our cash runway and put bluebird in a stronger position to execute on our strategic priorities and ultimately bring potentially curative gene therapies to patients and their families. The decision to reduce our workforce in support of a more focused set of priorities was not taken lightly, and we are grateful to every bluebird who has helped to progress the field of gene therapy and championed our mission."

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 AKEBIA THERAPEUTICS

Cambridge, Massachusetts-based Akebia Therapeutics, a fully integrated biopharmaceutical company, has announced a major layoff in response to

the Food and Drug Administration rejected the company's most advanced experimental drug, an anemia pill known as vadadustat.

The Akebia Therapeutics reduction in workforce will impact approximately 150 employees.

According to a regulatory filing, "The Board of Directors of Akebia Therapeutics, approved a reduction of the Company’s workforce by approximately 42% across all areas of the Company following the receipt of a complete response letter from the U.S. Food and Drug Administration to the Company’s new drug application for vadadustat for the treatment of anemia due to chronic kidney disease in adult patients. This workforce reduction is expected to be substantially completed by the end of the second quarter of 2022. The reduction in force reflects the Company’s determination to refocus its strategic priorities around its commercial product.

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?