Omega, Turnstone lay off staff as options narrow

Today’s Big News

Feb 4, 2025

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Featured

Pfizer axes B7-H4 ADC, triggering $1B impairment charge as blockbuster vision evaporates

Pfizer tallied up $1.2 billion in impairment charges in response to changes in development plans and commercial forecasts for Seagen-acquired ADCs.
 

Top Stories

Astellas fires CSO and chief manufacturing officer in C-suite shake-up

Astellas is preparing a significant shake-up of its top tier roles, including ushering out its current Chief Scientific Officer and Chief Manufacturing Officer.

Flagship's Omega sinks toward bankruptcy, lays off staff 13 months after inking Novo obesity pact

Omega Therapeutics has almost reached the end. With cash running low, the Novo Nordisk-partnered biotech has struck a deal with Flagship Pioneering that could see it file for bankruptcy and lay off up to 17 people.

Turnstone ends last remaining clinical program due to costs, plots more layoffs

Four months after laying off 60% of its workforce, Turnstone Biologics is planning further redundancies as the biotech gives up on its last remaining clinical-stage candidate over manufacturing costs.

CDC withdraws new scientific publications to scrub specific words: reports

The Centers for Disease Control and Prevention has asked its staff to withdraw any scientific papers currently under consideration for internal or external publication so that certain words can be removed, according to several reports.

RFK Jr.'s nomination for HHS secretary clears Senate committee, teeing up full vote

HHS secretary nominee Robert F. Kennedy Jr. is one step closer to confirmation as the Senate Finance Committee voted on Tuesday to advance his nomination for a full Senate vote.

Cumberland's Duchenne drug improves blood flow from heart in phase 2 trial

Cumberland Pharmaceuticals’ Duchenne muscular dystrophy drug has improved the amount of blood pumped by the heart, hitting the main goal of a phase 2 trial.

Charles River to shutter North Carolina pathology site, lay off up to 31 employees

Charles River is shuttering its pathology facility in Durham, North Carolina, after determining the site “is not a strategic fit,” a company spokesperson confirmed to Fierce Biotech in an email.

Baxter CEO José Almeida to retire, effective immediately

The news comes just days after Baxter completed the sale of its Vantive kidney care unit through a $3.8 billion deal with the Carlyle Group that had been in the works since last summer.

Trump tariffs will escalate costs and disrupt the medical supply chain, industry execs warn

Most hospital finance executives surveyed said they will need to shift increased costs onto insurers and patients in the form of higher service charges.
 
Fierce podcasts

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What to expect from the biotech IPO market in 2025

This week on “The Top Line,” we zoom in on a Fierce JPM Week panel of industry experts discussing what it will take for biotechs to pull off a successful IPO in 2025.
 

Resources

Whitepaper

The Oncology Market: 2024 Year in Review

This paper reviews key developments in the oncology market during 2024 and outlines what they mean for the future.

 

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