With a new CEO at the helm, Gamida is closing in on an FDA approval, but a lack of cash could hobble its US launch efforts for allogeneic cell therapy product omidubicel.

Arcutis's CEO believes that with "a modest investment," the company can generate proof-of-concept data "against a de-risked target in a high-value indication,” Ducentis's preclinical atopic dermatits drug DS-234.

Lack of scale, the need for further funding and problems getting reimbursement for its adrenal insufficiency products left the Wales-headquartered firm vulnerable to a takeover and San Diego's Neurocrine has swooped.

Saniona and Bone Therapeutics are the latest companies on the continent to be forced into drastic restructuring, shedding jobs and research projects to preserve rapidly dwindling cash piles.