Three months after BridgeBio’s TTR amyloidosis candidate suffered a major — and according to CEO Neil Kumar, “baffling” — Phase III fail that wiped out $4 billion in market cap, Endpoints News has learned that the company is swinging the budget ax, all while lying low as best it can during the restructuring.
After receiving a call and tracking social media posts regarding a number of layoffs at BridgeBio, Kumar confirmed that the company has made cuts without specifying just how many.
“This is part of a necessary and ongoing cost reduction process. We are sorry to see our colleagues go – a great number of whom contributed significantly to our mission to serve patients,” the chief executive said in an emailed statement to Endpoints.
The company’s talent acquisition team was significantly affected, according to a source who prefers to remain anonymous.
“Due to some disappointing clinical data on another…
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