Imara rises on workforce reduction

Enliven Therapeutics

18/04/2022 13:53

** Shares of drug developer Imara Inc  IMRA.O  rise ~11% to
$1.15 premarket after co slashes workforce by 83% 
    ** IMRA set for its best session in four weeks
    ** Co says it expects to substantially complete the job cuts
by Q2 and will have six remaining full-time employees; chief
medical officer Kenneth Attie is among those laid off
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    ** Expects to record a restructuring charge of about $2 mln 
    ** IMRA has been trading at record lows ever since it
announced plans to stop development of its lead drug
tovinontrine for two types of blood disorders earlier this month
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    ** Stock has been on a downward trend since its peak of
$62.71 hit shortly after debuting in March 2020
    ** Imara has recorded yearly declines since listing; stock
down ~54% YTD
    
    
    

 (Reporting by Susan Mathew)
 ((susan.mathew@thomsonreuters.com))