Brief: Beam Therapeutics To Cut 20% Workforce

Beam Therapeutics

19/10/2023 14:45

Oct 19 (Reuters) - Beam Therapeutics Inc  BEAM.O :
    * BEAM THERAPEUTICS ANNOUNCES PORTFOLIO PRIORITIZATION AND
STRATEGIC RESTRUCTURING FOCUSED ON POTENTIAL NEAR-TERM VALUE
DRIVERS AND LONG-TERM GROWTH OF PRECISION GENETIC MEDICINES
PIPELINE
    * BEAM THERAPEUTICS INC - COMPANY TO EXPLORE PARTNERSHIP
OPPORTUNITIES FOR CONTINUED DEVELOPMENT OF SELECT PROGRAMS
    * BEAM THERAPEUTICS INC - ANTICIPATED COST SAVINGS, WHICH
INCLUDES
AN APPROXIMATELY 20% REDUCTION IN WORKFORCE
    * BEAM THERAPEUTICS INC - ANTICIPATED COST SAVINGS, EXPECTED
TO
EXTEND COMPANY'S CASH RUNWAY INTO 2026
    * BEAM THERAPEUTICS INC: RELATED TO WORKFORCE REDUCTION,
BEAM
EXPECTS TO INCUR ONE-TIME COSTS OF APPROXIMATELY $6.6 MILLION
    * BEAM THERAPEUTICS INC - PLANS A REDUCTION IN HEADCOUNT OF
APPROXIMATELY 100 EMPLOYEES, ABOUT 20% OF ITS CURRENT WORKFORCE
    * BEAM THERAPEUTICS -CONDUCT INITIAL BEAM-301 CLINICAL TRIAL
FOR
TREATMENT OF GLYCOGEN STORAGE DISEASE 1A (GSD1A) AT A SELECT
NUMBER OF SITES IN U.S.
    * BEAM THERAPEUTICS INC -  WORKFORCE REDUCTION IS
ANTICIPATED TO
BE COMPLETED IN Q4 OF 2023

Source text for Eikon:  ID:nGNX7zwXKF 
Further company coverage:  BEAM.O 

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