Brief: TC Biopharm Announces Additional Cost Reduction Steps

TC Biopharm (Holdings)

03/01/2024 13:33

Jan 3 (Reuters) - TC BioPharm Ltd  T0Uy.F :
    * TC BIOPHARM ANNOUNCES ADDITIONAL COST REDUCTION STEPS TO
IMPROVE
FINANCIAL STANDING AND STREAMLINE EFFICIENCIES
    * LAUNCHING INITIATIVE WITH TARGET OF A REDUCTION IN
CASH-BURN AT
COMPANY BY APPROXIMATELY 50% TO BECOME FULLY EFFECTIVE IN Q1
2024
    * REDUCTION OF HEADCOUNT BY APPROXIMATELY 50%
    * COST SAVING MOVES ARE BEING MADE TO EXTEND RUNWAY AND
PRIORITIZE
PRIMARY GOAL OF CLINICAL SUCCESS
    * SCALED DOWN RESEARCH AND DEVELOPMENT TO STRICTLY PROCESS
DEVELOPMENT FOR COMMERCIAL APPLICATIONS AND MANUFACTURING
    * IMPLEMENTING A FOCUSED MANUFACTURING PLATFORM TARGETING
ONLY
PRODUCT NEEDED TO COMPLETE ACHIEVE TRIAL IN 2024

Source text for Eikon:  ID:nPnq0VvDa 
Further company coverage:  T0Uy.F 

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