AM I NEXT? NO LOVE AT AMPLIFYBIO

West Jefferson, Ohio-based AmplifyBio, a biotechnology company specializing in customizable preclinical contract development and manufacturing organization, has announced that it has closed and ceased all operations.

The closure impacted 212 employees.

According to the company, "This decision comes after months of tireless efforts by the AmplifyBio leadership team, investors, and other key stakeholders to explore and exhaust all investment and acquisition possibilities. It is with deep sadness and gratitude that we announce the closure of AmplifyBio’s operations. Like any startup, AmplifyBio's growth strategy relied on meeting revenue targets and a supportive investor climate. At the time AmplifyBio launched, market conditions were favorable for early-phase drug development. That market sector has experienced a significant shift over the last couple of years, leading to a scarcity of investor financing for early-stage biotech companies, which greatly impacted the ability to grow."

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. We see good people being laid off through no fault of their own. Just because something terrible 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. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT SPARK THERAPEUTICS

Philadelphia, Pennsylvania-based Spark Therapeutics, a biotechnology company specializing in the development of gene therapy treatments, has announced a major reduction in force as part of a restructuring at the behest of its owner, Basel, Switzerland-based Roche Group.

The personnel realignment will impact 337 employees, more than half of the company's workforce. The additional 310 employees will be integrated into Roche and remain in Philadelphia, Pennsylvania.

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. We see good people being laid off through no fault of their own. Just because something terrible 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. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT CARGO THERAPEUTICS

San Carlos, California-based Cargo Therapeutics, a biotechnology company developing cancer cell therapies, has announced a wind-down of its development projects after receiving disappointing Phase 2 clinical trial results, with almost a fifth of the trial’s lymphoma patients showing signs of a dangerous side effect.

The wind-down will impact 90% of the company's workforce, approximately 83 employees, as the company struggles to “preserve cash and maximize shareholder value.”

According to Chairman John Orwin, “In connection with the Company’s review of strategic options, the Board has concluded that it is in the best interests of shareholders to cease development operations. We are grateful for the contributions of those who will be leaving CARGO as a result of the decision to discontinue development of our remaining pipeline assets. Our priority moving forward is to maximize value for shareholders while aiming to find a permanent home for our remaining assets for the benefit of patients and to do both in an expeditious manner."

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. We see good people being laid off through no fault of their own. Just because something terrible 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. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?