Frequency has had a rocky year, recently undergoing a restructuring after an experimental drug for hearing loss failed to meet its goal in a clinical trial. The company shut down the program and laid off about half of its workforce as a result.
Frequency went public in 2018, but its shares have steadily lost value as it hit setbacks in its research. The company is one more than 85 biotech companies to cut staff this year, according to data from BioPharma Dive.
