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Finance Watch: SPAC Deals Stumble, Layoffs Continue As Valuations Struggle To Recover

Axcella, Sensei, Instil, TherapeuticsMD, Novartis Reveal Job Cuts

Executive Summary

Aesther Healthcare Acquisition extended the deadline to merge with Ocean Biomedical, while Intrinsic Medicine no longer plans to go public by merging with a SPAC. In restructuring news, Otonomy begins liquidation, Celyad cuts last clinical program with cash running out and Clovis files for bankruptcy.

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