Company Directory - Entero Therapeutics, Inc.
Company Details - Entero Therapeutics, Inc.
Entero Therapeutics, Inc.
WebsiteA biopharmaceutical company dedicated to therapeutics for gastrointestinal disorders.
CCI Score
CCI Score: Entero Therapeutics, Inc.
-49.80
0.03%
Latest Event
Reverse Merger and Workforce Downsizing at Entero Therapeutics
On November 13, 2024, following significant financial distress including creditor pressure and a $7.5 million debt facility tied to a previous acquisition, Entero Therapeutics executed a reverse merger with Journey Therapeutics. In the process, the company laid off all nonessential employees, halted nonessential R&D activities, and saw its CEO depart, actions that indicate a drastic restructuring with serious implications for its workforce and long-term organizational stability.
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QUISLING
Entero Therapeutics, Inc. is currently rated as a Quisling.
Latest Events
- NOV132024
On November 13, 2024, following significant financial distress including creditor pressure and a $7.5 million debt facility tied to a previous acquisition, Entero Therapeutics executed a reverse merger with Journey Therapeutics. In the process, the company laid off all nonessential employees, halted nonessential R&D activities, and saw its CEO depart, actions that indicate a drastic restructuring with serious implications for its workforce and long-term organizational stability.
-70
Labor Relations and Human Rights Practices
April 4
Entero Therapeutics’ decision to lay off all nonessential employees and pause nonessential R&D has a direct negative impact on worker rights and job security. Such mass downsizing, carried out amid financial distress and without clear protective measures for employees, is viewed as a detrimental business practice from a labor rights perspective.
-40
Economic Collaboration
April 4
The reverse merger, driven by mounting debt and creditor pressure, represents a significant economic restructuring maneuver. While reverse mergers can sometimes allow a company to stabilize, in this case it consolidates control and may erode accountability and long‑term community investment, reflecting a negative economic influence.
- AUG082024
Facing creditor pressure and a looming loan default, Entero Therapeutics laid off all nonessential employees, vacated its office, and paused nonessential R&D activities. The restructuring also saw the departure of top executives, including the CEO, who secured a lucrative consulting deal.
-40
Labor Relations and Human Rights Practices
April 4
The decision to lay off nonessential staff and abruptly pause R&D, combined with top executives exiting under advantageous consulting deals, demonstrates a disregard for worker welfare. This move negatively impacts labor relations and undermines ethical business practices, adversely affecting the rights and well-being of employees.
- AUG082024
Following a creditor’s demand related to a loan default tied to its acquisition of ImmunogenX, Entero Therapeutics implemented sweeping restructuring measures including laying off nonessential employees, vacating its Boca Raton office, pausing nonessential R&D activities, and the departure of top executives, including the CEO and President.
-50
Labor Relations and Human Rights Practices
April 4
The drastic measures, such as mass layoffs and operational cutbacks during financial distress, reflect a significant disregard for worker rights and stability. The decision to relieve not only lower-level employees but also top executives, who have secured lucrative consulting deals, underscores a problematic approach to labor relations and ethical responsibility.
- DEC012023
Following a merger that brought in a new lead candidate, Entero Therapeutics faced mounting creditor pressure, leading to abrupt layoffs, suspension of R&D, and cost-cutting measures that undermine worker security and rights.
-70
Labor Relations and Human Rights Practices
April 4
Entero Therapeutics' decision to lay off most of its staff and pause R&D in response to creditor demands reflects a disregard for worker security and fair labor practices. This abrupt move negatively impacts labor relations and raises concerns about the company’s ethical responsibility towards its employees.
Entero Therapeutics turns the lights off as creditors come calling
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Industries
- 325414
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- 423450
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- Research and Development in Biotechnology