Brief: Immunovia To Significantly Restructure To Focus Resources On Its Next-Generation Blood Test For Pancreatic Cancer Detection

Immunovia AB (publ)

11/07/2023 21:40

July 11 (Reuters) - Immunovia AB (publ)  IMMNOV.ST :
    * IMMUNOVIA TO SIGNIFICANTLY RESTRUCTURE TO FOCUS RESOURCES
ON ITS
NEXT-GENERATION BLOOD TEST FOR PANCREATIC CANCER DETECTION
    * COMPANY WILL CEASE COMMERCIALIZATION OF ITS IMMRAY
PANCAN-D TEST
IN UNITED STATES
    * IMMUNOVIA - EXPECTS TO RELEASE FURTHER DETAILS ABOUT
NEXT-GENERATION TEST LATER THIS YEAR, WITH AN ANTICIPATED LAUNCH
DATE IN 2024
    * IMPORTANTLY, STAFFING REDUCTIONS AND ELIMINATION OF OTHER
OPERATING EXPENSES WILL LOWER COMPANY'S CASH BURN RATE
    * IMMUNOVIA'S STRATEGIC DECISION TO FOCUS ON ITS NEXT
GENERATION
ASSAY WILL RESULT IN SIGNIFICANT LAYOFFS IN BOTH SWEDEN AND U.S.
    * IMMUNOVIA- STAFFING REDUCTIONS, ELIMINATION OF OTHER
OPERATING
EXPENSES WILL LOWER COMPANY'S CASH BURN RATE, EXTEND CO'S CASH
RESERVES WELL INTO 2024

Source text for Eikon:  ID:nWkr2fmz63 
Further company coverage:  IMMNOV.ST 

 ((Reuters.Briefs@thomsonreuters.com;))