Gritstone bio (GRTS) to Cut 40% Staff
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Gritstone bio Announces Workforce ReductionÂ
February 29, 2024 4:05 PM ESTEMERYVILLE, Calif., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Gritstone bio, Inc. (Nasdaq: GRTS), a clinical-stage biotechnology company working to develop the worlds most potent vaccines, today announced an approximately 40% reduction of its workforce. The move comes following the recently announced delay of the proposed CORAL Phase 2b study, which resulted in Gritstone not receiving external funding it previously anticipated beginning in 1Q 2024, associated with the initiation of the study.Â
The lack of near-term funding necessitated this difficult step to fortify our balance sheet and cash position, which unfortunately means an impact to our... More
