Bay Area biotech company once worth $2 billion lays off half of its workers
Alector will lay off about half its staff after its Phase 3 drug latozinemab failed to slow dementia progression, prompting program discontinuation and leadership changes.
Bay Area biotech company lays off half its workers a year after raising $325M
Arsenal Biosciences is cutting about half its workforce (≈100 employees) to extend its cash runway while shifting from early-stage research into clinical trials.