While the impact of the IRA on the pharmaceutical industry cannot yet be fully determined, it is likely to be significant.
All entries for: Home
May 25, 2025
ORIC Pharmaceuticals
Neutral Outlook
South San Francisco, CA
51-200 employees
Disease Area: Oncology
Drug Type: Small Molecule
May 25, 2025
AnaptysBio
Neutral Outlook
San Diego, CA
51-200 employees
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.
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 20, 2025
Prime Medicine
Discontinued Research, Layoffs
Cambridge, MA
201-500 employees
As part of a strategic restructuring that includes deprioritizing its chronic granulomatous disease (CGD) programs, Prime Medicine is cutting about 25% of its staff and saying goodbye to its CEO, who resigned, the company announced May 19. The Cambridge, Massachusetts–based biotech had 214 full-time employees as of Dec. 31, 2024, according to an SEC filing, meaning the layoffs could affect about 54 people.
Disease Area: Hematology, Immune Diseases, Metabolic Diseases, Multiple, Respiratory Diseases
Drug Type: Biologic
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 15, 2025
Kyverna Therapeutics
Layoffs
Emeryville, CA
51-200 employees
Despite having what CEO Warner Biddle called an “exceptional start” to the year, Kyverna Therapeutics had to downsize by 16% in the first quarter. As of March 31, the biotech had 119 full-time employees, as per an SEC filing. The layoffs are part of Kyverna’s effort to “streamline” its operations and support the development of its late-stage pipeline, while also extending its cash runway into 2027, the biotech announced on Tuesday, alongside its first-quarter earnings report.
Disease Area: Immune Diseases, Multiple, Neurological Diseases, Rare Diseases
Drug Type: Biologic
May 15, 2025
Solid Biosciences
Negative Outlook
Charlestown, MA
51-200 employees
Accordingly, while it is currently unclear how the IRA will be effectuated, we cannot predict with certainty what impact any federal or state health reforms will have on us, but such changes could impose new or more stringent regulatory requirements on our activities or result in reduced reimbursement for our products, any of which could adversely affect our business, results of operations and financial condition.
Disease Area: Cardiology, Multiple, Neurological Diseases, Rare Diseases
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