California biotech NGM Bio is slimming down as the company pivots focus, shedding around 75% of staff, pausing development of a phase 2 liver disease asset and halting further investment in discovery and preclinical work, the company confirmed in a statement to Fierce Biotech.
https://www.fiercebiotech.com/biotech/ngm-bio-slims-down-strategic-pivot-cutting-75-staff-and-halting-mid-stage-liver-disease