Lykos Therapeutics is capping off an awful week with a massive reorganization, laying off about 75% of staff in the aftermath of an FDA rejection and the retraction of three research papers on the biotech’s MDMA treatment due to protocol violations at a clinical trial site.

After collecting a de novo clearance from the FDA last fall for its ultrasound-powered liver cancer treatment, HistoSonics has raised $102 million in funds to turn up the volume on its commercial efforts.

Two and half years after it signed a $100 million biobucks deal with Aarvik Therapeutics to work on an undisclosed “novel oncology drug,” ArriVent BioPharma has decided to license the candidate—and confirmed that it’s an antibody-drug conjugate (ADC).

Actuate Therapeutics became the latest biotech to join the Nasdaq this week with a scaled-back IPO that brought in $22.4 million.

As Grail finally leaves the Illumina nest, taking flight as a public, independent company for the first time, the cancer blood test developer said it would shed as much as 30% of its staff and narrow its focus to help it gain altitude on a single, primary objective.

Galera Therapeutics is shuttering, with the biotech’s board OK’ing a liquidation plan that whittles down the company’s workforce to just three people.

Metagenomi is editing its pipeline, choosing to seek a partner for a program Moderna dropped and axing its amyotrophic lateral sclerosis (ALS) activities in response to setbacks at a competitor.

Viracta Therapeutics is going all-in on its lymphoma program. The biotech responded to phase 2 data by throwing its resources behind a plan to file for a blood cancer approval in 2026, hitting pause on its solid tumor program and putting 23% of its staff out of a job in the process.

Evotec has set its sights on scrapping around 400 roles as the drug development services provider continues to battle tough market conditions.

As part of its national cancer moonshot efforts, the Biden administration aims to deliver $150 million in funding to developers of new technologies aimed at making tumor surgeries safer and more precise.