Codiak up on restructuring plans

Codiak BioSciences,.

30/08/2022 18:43

** Drug Developer Codiak BioSciences Inc's shares  CDAK.O 
rise 3.1% to $2.3 
    ** Co plans to cut 37% of its workforce to 53 full-time
employees to extend cash runway  urn:newsml:reuters.com:*:nGNX9126kF
    ** Co says its will prioritize the coronavirus vaccine
development program funded by coalition for epidemic
preparedness innovations (CEPI) announced last month
    ** As of June 30, CDAK has about $41.8 mln in cash, cash
equivalents, and marketable securities
    ** Including session's gains, stock down ~80% YTD 

 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com;))