Neoleukin Therapeutics rises on strategic alternatives plan, job cuts

Neurogene

09/03/2023 11:20

** Biopharmaceutical company Neoleukin Therapeutics  NLTX.O 
  shares up 30.9% at $0.69 in premarket trade
    ** Co says it is reviewing strategic alternatives, which may
include a sale or merger among other options
    ** NLTX board approved further corporate restructuring to
preserve cash, including reduction in workforce by about 70%
    ** Chief Executive Officer Jonathan Drachman to step down
    ** NLTX fell 89.4% in 2022

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com;))