TC Biopharm Announces Corporate Restructuring, Reduction In Overhead; Co. Is Reducing Its Workforce Up To 30%, With The Majority Of The Reduction Expected To Be Completed During The First Half 2023; Expected To Result In Cost Savings In Excess Of $3M

Benzinga · 03/22 20:40

Extends cash runwayRealigned to reflect corporate strategic visionEDINBURGH, Scotland, March 22, 2023 /PRNewswire/ -- TC BioPharm (Holdings) PLC ("TC BioPharm" or the "Company") (NASDAQ:TCBP) a clinical stage biotechnology company developing platform allogeneic gamma-delta T cell therapies for cancer, today announced a corporate restructuring plan to reduce costs and prioritize its pending lead US clinical programs.In connection with the restructuring, the Company is reducing its workforce up to 30%, with the majority of the reduction expected to be completed during the first half 2023. The remaining team will support both current and future clinical trials and combination trials of our lead therapeutic

View Full Text on the app

Risk disclosure: The above content only represents the opinion of the authors or guests, and does not represent any positions of Futu or constitute any investment advice on the part of Futu. Before making any investment decision, investors should consider the risk factors related to investment products based on their own circumstances and consult professional investment advisers where necessary. Futu makes every effort to verify the authenticity, accuracy, and originality of the above content, but does not make any guarantees or promises.