Dewpoint Therapeutics, a startup working in the once-buzzy field of biomolecular condensates, laid off most of its staff Thursday.

The biotech is cutting around 70% of its workforce, a source told STAT. Dewpoint declined to provide the number of employees who were affected, saying that specific details related to the cuts were confidential. Following the cuts, Dewpoint — which previously had offices in Boston, Dresden, and Frankfurt, Germany — will focus its operations in Boston.

The company is also consolidating its drug pipeline, pushing its lead therapy for gastric cancer into clinical trials by the end of the year, CEO Ameet Nathwani said in a statement. He added that Dewpoint is in the final stages of raising private funding.

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