Fierce Biotech Layoff Tracker 2024: GlycoMimetics Cuts 80% of Company; Anokion Undergoes Cuts

1. GlycoMimetics Layoffs: GlycoMimetics has cut 80% of its workforce, marking a significant reduction in the company's size.
2. Anokion Layoffs: Anokion has also undergone layoffs, though the exact percentage of staff impacted is not specified.
3. Industry-Wide Layoffs: The biotech industry has seen a significant number of layoffs in 2024, with at least 7,616 workers impacted in the second quarter alone.
4. Other Companies Affected: Other companies that have made significant layoffs include Marinus Pharmaceuticals (20% of staff), Cue Biopharma (25% of staff), and Cara Therapeutics (70% of staff).
5. Reasons for Layoffs: The layoffs are largely attributed to cost-cutting measures, failed clinical trials, and strategic realignments within the companies.