Finance Watch: 2Q Brings Cost Cuts, Strategic Reviews For Many Biotechs

Peregrine, Ardelyx, Egalet and others reduced expenses and sought alternatives in the second quarter. Also, cell and gene therapy investment rises, FibroGen priced a $326m offering and Unity increased its Series B by $35m.

Finance Watch

A lot of biopharmaceutical companies are raising money right now, but some are cutting costs to preserve the cash they already have, and recent second quarter earnings reports and other announcements revealed belt-tightening going on among certain biotechnology firms.

Companies are tightening their therapeutic focus or seeking strategic alternatives to more wisely spend the money investors already have given...

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