2022 was a tough year for biotechs in anyone’s book. At Fierce, we recorded 119 companies that resorted to laying off staff. And judging by the Fierce Biotech Layoff Tracker, 2023 is looking like more of the same. Fierce Biotech’s James Waldron sat down with Glenn Hunzinger, the U.S. pharma and life science leader at PwC, to talk about the financial trends he expects biotechs to face in 2023.  Plus, in this episode, we cover Emergent's Narcan over-the-counter approval, the first PTSD neuromodulation device approval and more of this week's top headlines.  To learn more about the topics in this episode:  We have achieved peak biotech formation. It's time for 'musical chairs' 'Stay alive': Wave of layoffs crashes into biotech startup inferno Fierce Biotech Layoff Tracker 2023: Alector sends home 11%; Ferring closes US research institute Fierce Biotech Fundraising Tracker '23: OncoVerity tacks on $30M from argenx, Univ. of Colorado; Sonoma nabs $30M Regeneron investment Fierce Biotech Layoff Tracker: Layoffs strike 119 companies in 2022 Fierce Biotech Fundraising Tracker: Enlaza launches with $61M; Enveda brings in $68M Emergent makes history with first FDA nod for over-the-counter naloxone Neuromodulation device for PTSD treatment from GrayMatters snags FDA nod Musk's Neuralink seeks a clinical trial partner as it awaits FDA go-ahead: Reuters J&J scraps late-stage RSV vaccine in R&D overhaul, dropping out of race with GSK, Pfizer Look out, Lilly. Novartis touts 'consistent benefit' for Kisqali in broad early-stage breast cancer From cell therapies to US-made ingredients, White House outlines new drug manufacturing goals The Top Line is produced by senior podcast producer Teresa Carey and managing editor Querida Anderson. The sound engineer is Caleb Hodgson. The stories are by all our “Fierce” journalists. Like and subscribe wherever you listen to your podcasts. See omnystudio.com/listener for privacy information.