Mereo will reduce its headcount by 40% to focus on its lead programs while NeuBase revealed a 60% workforce reduction to extend its cash runway. Also, Invivyd (formerly Adagio), Greenlight and BioMarin announced job cuts, while Otonomy and others planned strategic shifts. 

German pharma takes global rights to preclinical bispecific antibody, while Surrozen will focus on Phase I candidates for inflammatory bowel disease and alcoholic hepatitis.

The UK biotech is developing three key assets - setrusumab, alvelestat and etigilimab - but according to its biggest stockholder, the progress being made is too slow and the share price is too low.

Nektar is hoping the combination of bempegaldesleukin and Opdivo could have better chances in kidney and bladder cancers, but analysts aren’t sure and see other IL-2 therapeutics as having better prospects.