Cue Biopharma (Nasdaq: CUE) announced layoffs affecting about a quarter of its workforce as part of a strategic review to prioritize its autoimmune program and boost operational efficiency.
The company’s stock price has been steadily declining in 2024, and the stock is currently trading at roughly a quarter of its value at the end of 2023.
The company had previously unveiled ambitions to cut costs by about 25% and extend cash flow through to mid-2025, but the announcement did not reverse that trend.
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Chairman of Sanofi-Aventis UK
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