Alaunos’ runway ends before New Year's, as TCR biotech shrinks staff, seeks sale
Alaunos Therapeutics, a TCR-T biotech formerly known as Ziopharm Oncology, will shutter its lead program, lay off 60% of staff and seek a sale or other form of transaction.
Announced after Monday’s closing bell, the move comes as the biotech’s runway dwindles to just a few months. With $18.3 million at the end of June, the Houston drugmaker predicts just enough cash to get into the fourth quarter of this year, per its update.
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