NexImmune to lay off 53% of employees to save money, CFO to step down
Immunotherapy company NexImmune plans to lay off 22 of its 47 employees by Sep. 5 to reduce the company’s expenses. John Trainer is vacating his role as CFO from Sep. 2 but will stay on as a consultant and advisor. He joined NexImmune in Jan. 2020.
As of June 30, the company had $16.3 million in cash and cash equivalents, which is a drop from $34.6 million at the end of 2022, as per the company’s second quarter earnings report released on Aug. 10. The company said then that its funds should be enough to tide the company into the fourth quarter.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.