Bayer to cut 90 workers; Avalo’s up to $185M private placement

Plus, news about Prax­is, Pieris, Iron­wood, Stoke and Mile­stone Phar­ma­ceu­ti­cals:

Bay­er to cut 90 jobs af­ter lead­er­ship cuts: The Ger­man con­glom­er­ate’s lay­off plans were un­veiled in a New Jer­sey Work­er Ad­just­ment and Re­train­ing No­ti­fi­ca­tion doc­u­ment. The staff cuts are ef­fec­tive June 19. A week ago, Bay­er halved its phar­ma ex­ec­u­tive team amid a broad­er re­struc­tur­ing aimed at mak­ing the com­pa­ny more ef­fi­cient. — Ay­isha Shar­ma

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