Biopharma investment activity showed a mix of workforce and funding signals, with fewer layoffs than the prior year but a still-elevated number of affected employees. In Q1 2026, BioSpace tallies reported 35 companies making or projecting layoffs, down from 74 in Q1 2025, while total affected headcount rose year over year. The coverage attributes workforce movement partly to company-specific restructurings, including Viatris’ planned global cuts and Evotec’s site consolidation strategy. At the same time, the piece noted seven biopharma companies went public in Q1 2026, approaching the number of IPOs seen in all of 2025. For industry leaders, the picture is a “capital selectivity” story: continued hiring restraint paired with pockets of liquidity through listings, financing, and dealmaking.