Publicly traded biotech company Absci is laying off 30 employees, or approximately 15% of its workforce.
- The layoffs, revealed in a SEC filing on Tuesday, are “related to the Company’s continued realization of operational efficiencies from its AI and wet lab integration, coupled with an enhanced focus on its internal pipeline of drug discovery programs,” according to the filing.
- The company conducted a separate round of layoffs about a year ago; about 40 employees were reportedly let go at the time.
- Vancouver, Wash.-based Absci went public in 2021. The company’s stock was down more than 7% on Tuesday, and is down more than 20% this year.
