Vantaggi
The former social media-addicted CEO who lacked a basic science degree was replaced by someone with proper paper credentials. Regrettably, that replacement is just as unqualified and even less inspiring. Seaport facility looks beautiful and has lots of amenities. If bench science occurred there, it could be mistaken for a real pharmaceutical company. As it stands, pristine labs have sat eerily quiet for years, with idled equipment and devoid of technical personnel. Think “biotech apocalypse.” The company took its workforce to a retreat in Aruba in 2023. It didn’t meet its corporate goals that year, but much fun was had. Thank you, investors. Pay is competitive. Benefits are mediocre. No 401k match, only a minimal safe harbor contribution made the following year. Don’t be snowed by grant of stock options. Pull up a stock chart.
Svantaggi
Utterly chaotic and rudderless company, held together with duct tape, chewing gum and baling wire built atop a foundation of unexciting and incremental science. No aspect seems professionally run. C-suite efforts to recast this “no-corner-won’t-be-cut” dumpster fire as “entrepreneurial and scrappy” are without merit. Executive teams typically “execute” against a plan. Not here. C-suite decision making is perennially reactive, shortsighted, tactical and based on optics alone. Pre-Seaport spin, infighting was prolific at the highest levels. Personnel: Constantly churning staff with critical positions in regulatory, clinical, CMC and other key functions serving as revolving doors. Employee malaise permeates the org. Competent FTEs tend to leave quickly after having gazed into the abyss, sometimes within mere months of hire and without notice. Large contingent of contractors helps to keep the lights on. If you join PureTech, your team roster will change monthly and you would be well advised to keep your resume up-to-date. Morale is in the toilet. Infrastructure: Basic support functions are lacking (HR, IT, accounting, finance).