Editas Medicine said Thursday afternoon it will lay off 65% of its staff — around 180 employees — as it shelves its lead gene-editing program for sickle cell disease and shifts focus.
The cuts come amid a prolonged financial downturn for the gene-editing field, as valuations have plummeted and layoffs have become widespread. Editas already laid off staff as part of a restructuring in 2023. Its stock has fallen 81% this year.
Editas launched with immense fanfare a decade ago, as one of the first three companies founded around the promise of CRISPR genome editing. But it struggled on execution, choosing to go after hard-to-reach diseases, and it saw significant turnover as early programs failed or stagnated.
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