Rob AriasThis wrap-up of local Emeryville business stories includes pending layoffs at Emeryville’s largest employer, Two Emeryville Life Science companies planning IPOs, the not-surprising closure of the MedMen Cannabis Dispensary and details emerging on Amyris’ plan to emerge from bankruptcy.
(Please note that some stories may be behind a paywall).
Struggling marijuana company MedMen shutters 2 stores in Northern California
By Chris Casacchia
Marijuana multistate operator MedMen Enterprises has closed two stores in Northern California, MJBizDaily has confirmed.
The abrupt store closures last week were in Emeryville in the Bay Area and San Jose in the Silicon Valley.
As Disney pushes toward streaming profitability, Pixar to undergo layoffs in 2024
Disney-owned animation studio Pixar is poised to undergo layoffs this year, TechCrunch has learned and the company confirmed. While sources at the company said the layoffs would be significant and as high as 20% — or reductions that would see Pixar’s team of 1,300 dropped to less than 1,000 over the coming months — Pixar says those numbers are too high. Rather, the studio said the number of impacted employees is still being determined due to factors like production schedules and staffing for future greenlit films.
Moderna, Bayer-backed startup Metagenomi files for US IPO
Metagenomi Technologies, a genetic medicines company backed by Bayer Healthcare (BAYGn.DE), opens new tab and Moderna (MRNA.O), opens new tab, filed for an initial public offering (IPO) in the United States on Friday.
The startup, launched in 2018 by UC Berkeley scientists, joins a slew of companies gearing up for a 2024 listing after a stock rally in recent months.
Kyverna Therapeutics Seeks to Raise Up to $314.1M in IPO Amid Going-Concern Warnings
By Zaeem Shoaib
Kyverna Therapeutics upsized its proposed initial public offering and now expects to offer 14.5 million common shares at a per-share price between $20 and $21.
The clinical-stage biopharmaceutical company initially filed for an IPO in January and expected to offer 11.12 million shares at a per-share price between $17 and $19.
Amyris looks to emerge from bankruptcy under big creditor’s unique plan
Cleantech pioneer Amyris Inc.’s latest U.S. Bankruptcy Court reorganization plan, including $81.4 million in settlements between a key lender and other creditors, is facing objections from the Securities and Exchange Commission and the company’s court-appointed trustee.
