Sonata Therapeutics, a startup created two years ago through the merger of two Flagship Pioneering companies, has laid off approximately one third of its employees. This reduction, which equates to 21 workers, was disclosed in recent social media posts by employees and confirmed by a company spokesperson.

In the wake of the biotech downturn, many startups have been conducting layoffs in an effort to extend their cash runways. With the downturn eventually showing signs of relief, however, this trend could be transient. Private investors and venture capitalists are maintaining a careful approach to their funding as they monitor for a potential rebound from the downturn.

Source: Flagship Pioneering startup Sonata Therapeutics lays off 21.