Polypid rises on cost-reduction plan to extend cash runway

Polypid

20/10/2022 16:38

** Israel-based biopharmaceutical co Polypid Ltd's shares
 PYPD.O  rise 1.9% to $1.1
    ** Co announces cost-cut plan, including a 20% reduction in
headcount across all departments, in a move that is expected to
extend its cash runway into Q3 2023  urn:newsml:reuters.com:*:nGNXTTWxB
        ** Says it is preparing for planned talks in Q1 2023
with the U.S. FDA and EU authorities on regulatory pathway for
lead candidate D-PLEX100, which is in a late-stage trial to
treat abdominal surgery site infections 
    ** Co adds that it will provide further details on its
regulatory plans, corporate update and cash position in its Q3
2022 financial results on Nov 9
    ** Including session's gain, stock down ~81.7% YTD
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))