Brief: Magenta Therapeutics Inc Says As Of Dec 31, 2022, Co's Cash, Cash Equivalents, Marketable Securities Were About $112 Mln

Dianthus Therapeutics

07/02/2023 21:57

Feb 7 (Reuters) - Magenta Therapeutics Inc  MGTA.O :
    * MAGENTA THERAPEUTICS INC - AS OF DEC 31, 2022, CO'S CASH,
CASH
EQUIVALENTS AND MARKETABLE SECURITIES WERE ABOUT $112 MILLION
    * MAGENTA THERAPEUTICS INC - ON FEBRUARY 6, 2023, BOARD
APPROVED A
RESTRUCTURING PLAN
    * MAGENTA THERAPEUTICS-PLAN TO REDUCE OPERATIONS TO PRESERVE
FINANCIAL RESOURCES,RESULTING IN REDUCTION OF WORKFORCE BY UP TO
56 POSITIONS, OR ABOUT 84%
    * MAGENTA THERAPEUTICS INC - AS A RESULT OF PLAN, EXPECTS TO
INCUR
ESTIMATED SEVERANCE AND RELATED COSTS OF $5.4 MILLION BY END OF
FEB 2023
    * MAGENTA THERAPEUTICS INC - JASON GARDNER, PRESIDENT AND
CEO,
DAVID NICHOLS, CHIEF TECHNICAL OFFICER WILL BE LEAVING COMPANY
    * MAGENTA THERAPEUTICS INC - IN CONNECTION WITH PLAN,
STEPHEN
MAHONEY, CHIEF FINANCIAL AND OPERATING OFFICER, WAS NAMED
PRESIDENT OF CO

Further company coverage:  MGTA.O 
 ((Reuters.Briefs@thomsonreuters.com;))