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?

AM I NEXT? NO LOVE AT KALEIDO

Lexington, Massachusetts-based Kaleido Biosciences, a clinical-stage biotech company with a differentiated, small molecule approach to treating inflammatory conditions and diseases, has announced the cessation of operations and termination of all employees.

According to the company's filing with the Securities and Exchange Commission, "On April 8, 2022, the Board of Directors, voted to immediately wind down and cease all of the Company’s ongoing operations. In connection with the cessation of activities, the employment of all of the Company’s remaining employees was terminated effective immediately.

As previously announced, the Company had initiated a strategic process, in an attempt to maximize shareholder value and engaged professional advisors, including an investment banker to act as a strategic advisors in the process.

Unfortunately, the strategic process did not result in the identification of any viable transactions, and given its limited remaining resources, the Company cannot continue operations and believes that the best alternative is an orderly wind-down process.

The Company is evaluating additional details regarding the wind-down, and will provide further information when available."

Prior to shut down, the company Kaleido voluntarily delisted itself from Nasdaq.

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?