Restructuring Edition: After reporting record revenue, but lower profits due to rising costs, Ferring has decided to consolidate R&D in Europe. Also, Codiak has filed for Chapter 11 bankruptcy and will sell off its assets, while Exicure, Applied Molecular Transport, Gamida Cell and others revealed new job cuts.

The US firm’s lead program has flunked a mid-stage trial in early Parkinson’s disease and, despite a promising efficacy signal in a younger patient cohort, its future remains uncertain.

The latest drug development news and highlights from the Pink Sheet’s US FDA Performance Tracker

Favored by venture capital funds, Silicon Valley Bank has served biotech firms conducting transactions in the US. But its collapse is generating a ripple effect on Chinese start-ups already hard hit by a funding crunch.