Biotech Values

[DewDiligence]

OVAS—Another big layoff—another CEO change, among other things:

https://finance.yahoo.com/news/ovascience-appoints-christopher-kroeger-m-200100068.html

OvaScience is focused on advancing its two potentially transformative fertility treatments, OvaTure, in preclinical development and OvaPrime, in clinical development. Today, OvaScience announced that it will discontinue ongoing efforts related to the AUGMENT treatment outside of North America.

…In conjunction with this decision, OvaScience will restructure its organization to better align with these strategic priorities, including reducing its workforce by approximately 50 percent. These changes will enable the Company to extend its cash position into the first quarter of 2020, which it expects will allow it to achieve key 2019 milestones for OvaTure and OvaPrime…

This is in addition to the 30% layoff and CEO switch only six months ago (#msg-127346873). When a company has two large layoffs and two CEO changes in only six months, it’s the business that’s screwed up, not the management.