Key Points
Oct 19 (Reuters) - Beam Therapeutics (BEAM.O) said on Thursday it will focus on developing its experimental sickle cell disease treatments and reduce about 20% of its current workforce, or 100 employees, as part of a restructuring plan...
The gene-editing specialist expects to incur one-time expenses of about $6.6 million related to the workforce reduction, which it plans to complete in the fourth quarter...
The company said it expects cost savings from the plan and its cash balance of $1.1 billion as of June 30, to be sufficient to fund operations into 2026, compared to previous projection of at least 2025...
Its experimental sickle cell disease treatments include early-stage candidate BEAM-101, which activates fetal hemoglobin, the dominant form of hemoglobin present in the fetus during gestation...
The company will also focus on developing its experimental therapies for alpha-1 antitrypsin deficiency a condition that raises the risk for lung and other diseases and glycogen storage disease, a rare metabolic disorder...
