The repositioning plan of Pieris Pharmaceuticals is a strategic move to enhance efficiency and focus on the most promising areas for future growth. While the discontinuation of certain R&D efforts and workforce reduction may have short-term costs and potential negative sentiment, the long-term focus on optimizing milestones and royalties could be beneficial. The impact on the stock price is uncertain in the short term, as the market weighs the potential benefits against the immediate costs and uncertainties associated with the restructuring.