The impact of layoffs at Ginkgo Bioworks is coming into clearer focus. After announcing a plan to reduce “labor expenses” by at least 25% in early May, the synthetic biology company disclosed this week that will translate into the loss of more than a third of its workers.

In the latest sign that biotech’s return to the public markets remains somewhat lackluster, Alumis has downsized its IPO as the company prepares to list on the Nasdaq this morning.

After spinning out its spine business earlier this year, ZimVie is now considering selling off the remaining entirety of its dental operations, according to a report from Bloomberg.

AbbVie is embracing summer’s heat, cranking up the M&A dial with the acquisition of inflammatory disease-focused Celsius Therapeutics for $250 million in cash.

Novo Nordisk’s late-stage kidney disease drug has failed to evoke significant change in systolic blood pressure, a loss that will cost the Danish drugmaker more than $800 million.

Novo Nordisk has purchased 2seventy bio’s hemophilia A program along with rights to some of the biotech’s gene editing tech for autoimmune diseases in a deal worth up to $40 million.

Venture capital firm Curie.Bio has fueled up, raising $380 million for biotech founders and promising to stretch the runway of seed money for better long-term results.

Megarounds have been few and far between in 2024, but Formation Bio has managed to draw in an impressive $372 million series D as the AI-focused biotech seeks to expand its pipeline.

Diagnostic developer BillionToOne has clocked a billion-dollar valuation, after raising $130 million in venture capital funding.

With two cardiovascular disease candidates in or near phase 3, RNAi specialist Arrowhead Pharmaceuticals has dropped one prospect and thrown its weight behind the other to manage its spending.