Editas Medicine to Lay Off 180 Employees

Editas Medicine has announced a significant strategic shift towards in vivo gene editing, leading to a 65% workforce reduction, affecting around 180 employees, as it discontinues its lead program for sickle cell disease, reni-cel. This decision follows an inability to secure a commercial partner for the treatment amid a challenging financial landscape for the gene-editing sector, where Editas's stock has plummeted 81% this year. The company aims to focus on promising preclinical data from its in vivo pipeline, targeting human proof-of-concept within two years and extending its cash runway into 2027. Editas plans to publish further preclinical results and revised schedules in early 2025, signaling a renewed approach to gene editing. The transition marks a pivot from earlier efforts that struggled with execution and faced high turnover. This move reflects broader trends in the industry, where many gene-editing firms are facing layoffs and valuation declines.