Brief: Cyclerion Announces Mitochondrial Disease-Focused Corporate Strategy

Korsana Biosciences

06/10/2022 13:37

Oct 6 (Reuters) - Cyclerion Therapeutics Inc  CYCN.O :
    * CYCLERION ANNOUNCES MITOCHONDRIAL DISEASE-FOCUSED
CORPORATE
STRATEGY
    * CYCLERION THERAPEUTICS INC - DEVELOPMENT PROGRAMS
PRIORITIZED,
ORGANIZATION STRUCTURED TO ALIGN WITH
MITOCHONDRIALDISEASE-FOCUSED STRATEGY
    * CYCLERION THERAPEUTICS INC - PLANS TO MEET WITH FDA IN Q4
2022
TO DISCUSS MELAS DEVELOPMENT PROGRAM
    * CYCLERION THERAPEUTICS - COMPLETING PRE-IND ACTIVITIES FOR
CY3018, LOOKING TO SECURE PARTNERSHIP, OTHER FUNDING MECHANISM
TO DEVELOP PROGRAM IN FUTURE
    * CYCLERION THERAPEUTICS INC - DATA FROM ADV STUDY ARE
EXPECTED IN
FIRST HALF OF 2023
    * CYCLERION THERAPEUTICS - WORKFORCE BEING TAILORED TO
MITOCHONDRIAL DISEASE-FOCUSED STRATEGY, TO REDUCE ABOUT 45%, TO
16 FULL-TIME EMPLOYEES
    * CYCLERION THERAPEUTICS INC - EXPECTS TO TAKE ONE-TIME
EMPLOYEE-RELATED COSTS OF ABOUT $1.9 MILLION EXPECTED TO BE
INCURRED IN Q4 2022
    * CYCLERION THERAPEUTICS INC - EXPECTS TO REALIZE ANNUAL
CASH
SAVINGS OF ABOUT $4.1 MILLION
    * CYCLERION THERAPEUTICS - INTENDS TO LEVERAGE OTHER ASSETS
THROUGH OUT-LICENSING, PARTNERSHIPS TO SUPPORT CO'S
MITOCHONDRIAL DISEASE-FOCUSED STRATEGY
    * CYCLERION THERAPEUTICS - WILL SEEK EXTERNAL PARTNER TO
ADVANCE
CY3018 IN NEUROPSYCHIATRIC DISEASES, OLINCIGUAT IN SERIOUS
SYSTEMIC DISEASES

Source text for Eikon:  ID:nGNX4FNT14 
Further company coverage:  CYCN.O 
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