HilleVax rises after disclosing plan to lay off 70% of employees

HilleVax

06/12/2024 12:02

** Shares of vaccine developer HilleVax  HLVX.O  rise ~14%
to $2.13 premarket
    ** HLVX to lay of about 28 employees, or about 70% of its
workforce, to reduce operating costs, co said on Thursday 
    ** Co says remaining team will focus on developing norovirus
vaccine candidates, HIL-214 and HIL-216
    ** Co estimates that it will incur charges associated with
the workforce reduction of about $6.1 mln 
    ** As of Dec. 31, 2023, HLVX had 90 full-time employees -
SEC filling
    ** Earlier this year, HLVX laid off about 41 employees
    ** As of last close, stock has fallen 88.4% YTD

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))