Brief: Cue Biopharma To Slash 25% Workforce
25/07/2024 21:12
July 25 (Reuters) - Cue Biopharma Inc CUE.O :
* CUE BIOPHARMA ANNOUNCES STRATEGIC PRIORITIZATION OF
AUTOIMMUNE
PROGRAMS ENABLING OPTIMIZATION OF WORKFORCE AND REDUCTION OF
CAPITAL REQUIREMENTS
* CUE BIOPHARMA INC - EXPECTS TO REDUCE ITS FISCAL YEAR 2025
OPERATING EXPENSES BY APPROXIMATELY 25%, TO A PROJECTED ANNUAL
CASH BURN OF ABOUT $30 MILLION
* CUE BIOPHARMA INC -REALIGNED ITS WORKFORCE REQUIREMENTS
RESULTING IN AN APPROXIMATELY 25% REDUCTION OF STAFF
* CUE BIOPHARMA INC - WORKFORCE REALIGNMENT IS EXPECTED TO
EXTEND
COMPANY'S CASH RUNWAY INTO MID-YEAR 2025
Source text for Eikon: ID:nGNX21M7hF
Further company coverage: CUE.O
((Reuters.Briefs@thomsonreuters.com;))