May 8 Quick Takes: EQRx reset brings end of China deals, layoffs 

Six months after changes in its U.S. model cast further doubt on its goal of “radically” lower pricing, EQRx Inc. (NASDAQ:EQRX) announced a “reset” of its strategy to focus on “developing clinically differentiated, high-value medicines” with an initial focus on lerociclib, a CDK4/6 inhibitor in Phase III testing for endometrial cancer. It also announced the end of deals with two China biotechs and a reduction of its workforce by about 170 jobs. 

EQRx terminated its deals with CStone Pharmaceuticals Co. Ltd. (HKEX:2616) for anti-PD-L1 antibody sugemalimab and anti-PD-1 antibody nofazinlimab and with Lynk Pharmaceuticals Co. Ltd.
for JAK-1 inhibitor EQ121. It will seek a commercialization partner for EGFR inhibitor aumolertinib, and consider spinning out its early-stage immune-inflammatory programs...