Bayer, short on cash, reaches into shareholders’ pockets

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The need-to-know this morning

• Rapt Therapeutics said the FDA placed a clinical hold on its anti-inflammation drug, called zelnecirnon, following a case of liver failure in one patient enrolled in a mid-stage atopic dermatitis study. A separate study in asthma has also been placed on hold. Rapt is investigating the cause of the liver failure.

Biotech startups keep downsizing

The latest is Sonata Therapeutics, born from the merger of two Flagship Pioneering companies, which has laid off about a third of its staff.

As STAT’s Allison DeAngelis reports, Sonata has parted ways with 21 employees in recent weeks, significantly reducing its prior payroll of 63 people. The company was created in 2022 through the merger of two Flagship startups, Inzen Therapeutics and Cygnal Therapeutics, and is developing medicines in oncology, fibrosis, and autoimmune disorders.

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