2seventy bio climbs on Engine Capital's push for changes in company

2Seventy Bio

06/12/2023 16:20

** Shares of cancer therapy developer 2seventy bio  TSVT.O 
rise ~7.7% to $2.31
    ** Activist investor Engine Capital has urged a board
refresh at TSVT and elevating its chief operating officer Chip
Baird as CEO
    ** Engine Capital, which owns about a 3% stake in 2seventy
bio, says the company should exclusively focus on its blood
cancer therapy Abecma
    ** The push from the shareholder comes after TSVT in
September disclosed CEO Nick Leschly's intention to step down
and transition to the role of chairman
    ** Including session's move, stock down 75% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))