Cue Health, a San Diego biotech that ascended during the pandemic through mega funding and partnerships for its rapid COVID-19 test, said Wednesday that it is laying off half of its workforce as it aims to reduce costs and focus on its core technology. The diagnostic test maker said in a regulatory filing that it would lay off 230 employees, about 49 percent of its workforce, including several C-suite executives and manufacturing roles.
Cue’s COVID-19 test — which was the first at-home coronavirus test to receive full regular-use clearance — and its mpox, formerly called monkeypox, test are its only commercially available diagnostic tests. Its most recent application for an RSV molecular test was denied by the U.S. Food and Drug Administration. Following the success of its COVID-19 molecular test — its primary source of revenue — Cue has made efforts to expand its diagnostic testing menu and health technology platform.