Cancer therapy developer Gamida falls on restructuring, job cut plans

Gamida Cell

27/03/2023 14:50

** U.S.-listed shares of Israeli cancer therapy developer
Gamida Cell Ltd  GMDA.O  fall 11.1% to $1.2 to a near 3-month
low
    ** Co will discontinue its pre-clinical cell therapy
candidates to reduce operating expenses  nBwrgZZWa 
    ** Due to the discontinuation, co plans to implement 17%
headcount reduction 
    ** To close its operations in Jerusalem and consolidate
Israel operations at its manufacturing facility in Kiryat Gat
    ** Changes are expected to extend co's cash runway through
Q3 2023
    ** GMDA is also seeking potential commercial/strategic
partnerships to support broader launch of co's cell therapy
candidate for bone marrow transplant
    ** Shares up ~7% YTD

 (Reporting by Yamini Kalia)
 ((Yamini.Kalia@thomsonreuters.com))