E’ville Biz Digest: Pixar Layoffs Looming; Two Life Science IPOs; MedMen Closure; Amyris Looking to Emerge from Bankruptcy

1 min read

This 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

Photo: Glassdoor.com

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.

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Rob Arias

is a third generation Californian and East Bay native who lived in Emeryville from 2003 to 2021. Rob founded The E'ville Eye in 2011 after being robbed at gunpoint and lamenting the lack of local news coverage. Rob's "day job" is as a creative professional.

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