Achilles gains on plans to explore strategic options

Achilles Therapeutics

19/09/2024 19:18

** U.S.-listed shares of Achilles Therapeutics  ACHL.O  up
37% at 97 cents 
    ** Co says it is exploring strategic alternatives and has
engaged BofA Securities to provide strategic financial advice
    ** Plans to discontinue development of its skin and lung
cancer therapy 
    ** Co will refocus its strategy and engage with third
parties who are developing alternative therapies that target
clonal neoantigens that are present in cancerous cells
    ** Plans to reduce workforce and undertake other
cost-cutting measures
    ** ACHL reports cash, equivalents of $95.1 million as of
June 30
    ** As of last close, ACHL has fallen ~18% so far this year 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))