Business failures refer to the inability of a business to sustain its operations, meet financial obligations, or achieve profitability, leading to its closure or bankruptcy. This can occur for various reasons, including poor management decisions, insufficient market demand, lack of funding, competitive pressures, economic downturns, or operational inefficiencies. Business failures can manifest as a complete shutdown of the company or a significant reduction in its operations. The impact of a business failure can extend beyond the immediate financial loss, affecting employees, investors, suppliers, and the broader community. Understanding the causes of business failures is essential for entrepreneurs and organizations to learn from past mistakes and develop strategies to enhance business resilience and success.
Spotlight Therapeutics aimed to innovate gene editing by combining CRISPR technology with a cell-specific delivery system similar to antibody-drug conjugates. The company failed to advance its therapies beyond laboratory experiments…