Why Is Alaunos Therapeutics Sinking Today?
Portfolio Pulse from Vandana Singh
Alaunos Therapeutics Inc (NASDAQ:TCRT) is refocusing its efforts on its hunTR TCR discovery platform and exploring strategic alternatives for the company. This includes winding down its TCR-T Phase 1/2 Library trial and reducing its workforce by 60%. The company has engaged Cantor Fitzgerald & Co as a strategic advisor. Alaunos' shares are down 64.6% at $0.14.
August 15, 2023 | 6:29 pm
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Alaunos Therapeutics is refocusing its strategy, which includes a significant workforce reduction and a shift in focus to its hunTR TCR discovery platform. This has resulted in a 64.6% drop in share price.
The company's strategic shift and workforce reduction are significant changes that have led to a sharp drop in share price. This indicates a lack of investor confidence in the company's current direction, which is likely to continue impacting the stock price in the short term.
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IMPORTANCE 100
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