Thus, it is unclear how the IRA will be implemented but it will likely have a significant impact on the pharmaceutical industry and the pricing of our products and product candidates.
All entries for: Oncology
May 25, 2025
AnaptysBio
Neutral Outlook
San Diego, CA
51-200 employees
Disease Area: Dermatology, Gastrointestinal, Immune Diseases, Multiple, Oncology
Drug Type: Biologic
May 21, 2025
Schrödinger
Layoffs
New York, NY
501-1,000 employees
In an effort to reduce its “cash burn rate,” Schrödinger on Tuesday announced it would part ways with 60 employees, corresponding to approximately 7% of its workforce. The company also announced that its chief financial officer, Geoffrey Porges, will step down from his role, effective June 6, until which time he will work with Schrödinger to ensure a smooth transition.
Disease Area: Immune Diseases, Multiple, Neurological Diseases, Oncology
Drug Type: Biologic, Small Molecule
May 16, 2025
Allogene Therapeutics
Layoffs
South San Francisco, CA
201-500 employees
To extend its cash runway into the second half of 2027 and focus resources on clinical programs, San Francisco–based Allogene Therapeutics is laying off 28% of employees, according to a May 13 SEC filing. The biotech, which is developing allogeneic CAR T products for cancer and autoimmune disease, had 229 employees as of March 1, according to an earlier filing, meaning the cuts could involve around 64 people.
Disease Area: Immune Diseases, Multiple, Oncology
Drug Type: Biologic
May 14, 2025
Leap Therapeutics
Layoffs
Cambridge, MA
51-200 employees
Flagging what CEO Douglas Onsi called the “difficult market environment,” immune specialist Leap Therapeutics will lay off approximately half of its workforce. The biotech made the announcement alongside its first-quarter 2025 earnings report, where it posted a net loss of $15.4 million, falling further into the red compared to the same period in 2024, during which it was operating with a $13.8 million deficit. Leap pointed to heightened R&D expenses as the reason for the increase in its loss.
Disease Area: Immune Diseases, Multiple, Oncology
Drug Type: Biologic
May 14, 2025
Atara Biotherapeutics
Layoffs
Thousand Oaks, CA
201-500 employees
Atara Biotherapeutics continues to shed its staff, announcing on Monday that it will downsize by approximately 30%, leaving only 23 employees behind who are “essential to executing on the Company’s strategic priorities,” according to an SEC filing.
Disease Area: Hematology, Immune Diseases, Multiple, Oncology
Drug Type: Biologic
May 14, 2025
Bayer
Layoffs
Whippany, NJ
50,001+ employees
Bayer laid off some 2,000 employees in the first quarter of 2025, CEO Bill Anderson revealed in a media call May 13, alongside the presentation of the company’s first quarter earnings results.
Disease Area: Cardiology, Hematology, Multiple, Neurological Diseases, Oncology
Drug Type: Biologic, Small Molecule
May 14, 2025
Enliven Therapeutics
Negative Outlook
Boulder, CO
1-50 employees
Any actions by federal and state governments, such as the Inflation Reduction Act of 2022 (“IRA”), and health plans aimed at putting additional downward pressure on pharmaceutical pricing and health care costs could negatively impact coverage and reimbursement for our product candidates if approved, our revenue, and our ability to compete with other marketed products and to recoup the costs of our research and development. For further discussion, see “We may face difficulties from changes to current regulations and future legislation. Healthcare legislative measures aimed at reducing healthcare costs may have a material adverse effect on our business and results of operations.”
Disease Area: Oncology
Drug Type: Small Molecule
May 14, 2025
Zentalis Pharmaceuticals
Neutral Outlook
San Diego, CA
51-200 employees
Most significantly, on August 16, 2022, the IRA was signed into law. This statute marks the most significant action by Congress with respect to the pharmaceutical industry since adoption of the ACA in 2010. Among other things, the IRA requires manufacturers of certain drugs to engage in price negotiations with Medicare, with prices that can be negotiated subject to a cap imposes rebates under Medicare Part B and Medicare Part D to penalize price increases that outpace inflation (first due in 2023, as applicable); and replaces the Part D coverage gap discount program with a new discounting program (which began in 2025). CMS has published the negotiated prices for the initial ten drugs, which will first be effective in 2026, and has published the list of the subsequent fifteen drugs that will be subject to negotiation. The IRA permits the Secretary of HHS to implement many of these provisions through guidance, as opposed to regulation, for the initial years. Each year thereafter, more Part B and Part D products will become subject to the HHS price negotiation program, although the program is currently subject to legal challenges. While the impact of the IRA on the pharmaceutical industry cannot yet be fully determined, it is likely to be significant.
Disease Area: Oncology
Drug Type: Small Molecule
May 13, 2025
Artelo Biosciences
Negative Outlook
Solana Beach, CA
1-50 employees
Our ability to successfully commercialize our products may depend on how the U.S. and other governments and/or health administrations provide coverage and/or reimbursements for our products. The ongoing efforts of governments, insurance companies, and other participants in the health care services industry to reduce health care costs may adversely affect our ability to achieve profitability. For example, in August 2022, Congress passed the IRA, which includes prescription drug provisions that have significant implications for the pharmaceutical industry and Medicare beneficiaries, including allowing the federal government to negotiate a maximum fair price for certain high-priced single-source Medicare drugs, imposing penalties and excise tax for manufacturers that fail to comply with the drug price negotiation requirements, requiring inflation rebates for all Medicare Part B and Part D drugs, with limited exceptions, if their drug prices increase faster than inflation, and redesigning Medicare Part D to reduce out-of-pocket prescription drug costs for beneficiaries, among other changes.
Disease Area: Chronic Disease, Multiple, Neurological Diseases, Oncology
Drug Type: Small Molecule
May 13, 2025
AN2 Therapeutics
Negative Outlook
Menlo Park, CA
1-50 employees
It is currently unclear how the IRA will be implemented but is likely to have a significant impact on the pharmaceutical industry. We expect that additional U.S. federal healthcare reform measures will be adopted in the future, any of which could limit the amounts that the U.S. federal government will pay for healthcare products and services, which could result in reduced demand for our product candidates or additional pricing pressures.
Disease Area: Infectious Diseases, Multiple, Oncology, Respiratory Diseases
Drug Type: Small Molecule