Lyndra lays off 23% of workers, to outsource manufacturing as it approaches pivotal readout next month

Lyn­dra Ther­a­peu­tics is let­ting go about 23% of its work­force as the Boston-area biotech seeks to trim op­er­a­tional costs ahead of a piv­otal tri­al read­out for a week­ly ver­sion of the schiz­o­phre­nia drug risperi­done, a spokesper­son for the com­pa­ny told End­points News.

The biotech had about 120 em­ploy­ees in June when then-pres­i­dent and op­er­at­ing chief Jes­si­ca Ballinger told End­points the com­pa­ny was eye­ing $180 mil­lion in a Se­ries D fi­nanc­ing to gear up for a 2025 NDA fil­ing and po­ten­tial launch in 2026 of the longer-act­ing schiz­o­phre­nia med­ica­tion, named LYN-005. Ballinger was pro­mot­ed to CEO a month lat­er.

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