Editas Medicine stated Thursday afternoon it’s going to lay off 65% of its workers — round 180 staff — because it cabinets its lead gene-editing program for sickle cell illness and shifts focus.
The cuts come amid a chronic monetary downturn for the gene-editing discipline, as valuations have plummeted and layoffs have turn into widespread. Editas already laid off workers as a part of a restructuring in 2023. Its inventory has fallen 81% this 12 months.
Editas launched with immense fanfare a decade in the past, as one of many first three firms based across the promise of CRISPR genome enhancing. But it struggled on execution, selecting to go after hard-to-reach ailments, and it noticed important turnover as early applications failed or stagnated.
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