Layoffs at BioMarin, Repare

A week after BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) unveiled two new C-suite hires, the rare disease company announced late Wednesday that it is cutting an additional 225 employees. In an SEC filing, BioMarin cited its Aug. 5 announcement that it’s narrowing the focus for the launch of hemophilia gene therapy Roctavian valoctocogene roxaparvovec and discontinuing development of BMN 293, a gene therapy for hypertrophic cardiomyopathy. The cuts, expected to be “substantially completed” by year-end, follow a headcount reduction of 170 announced in May. Last week, BioMarin announced that it hired veteran dealmaker James Sabry and new R&D head Greg Friberg.

Repare Therapeutics Inc. (NASDAQ:RPTX) announced a workforce reduction of about 25%, mostly from the company’s preclinical group, as it moves to focus on its clinical oncology pipeline. The company, which had 179 employees on Feb. 16, added that it expects to report data from the Phase I trial of lunresertib and camonsertib to treat ovarian and endometrial cancers next quarter. It had $208.1 million in cash at June 30, enough to fund current operations into 2H26...