Troubles are mounting for Clovis and its PARP inhibitor Rubraca, and now the company looks to be just months from bankruptcy.

Public Company Edition: Valuations have fallen enough in 2022 to lead some companies to wind down operations, but a recent uptick opened a window for a few offerings. Chinook raised $105m in a follow-on offering, while Flagship led a $79.2m registered direct offering for Evelo.

The neoantigen immunotherapy company is a casualty of slow R&D progress and a squeeze on biotech finance – and more firms are in the firing line.

Sio Gene, Genocea, Solid Biosciences, Saniona and Black Diamond join First Wave, Zosano, Vallon, Finch, Magenta, ProQR and Imara on the growing list of biopharma firms reducing headcount to make their cash last until valuations return to a level that may support new fundraising.