IN8bio shares are trading lower amid a possible selloff. The company announced it will focus on generating robust clinical data from INB-100, the ongoing investigator-sponsored Phase 1 clinical trial of acute myeloid leukemia and said it will preserve its cash resources with cost savings and a 49% workforce reduction.
Portfolio Pulse from Benzinga Newsdesk
IN8bio shares are declining as the company announces a focus on generating clinical data from its INB-100 trial for acute myeloid leukemia. To preserve cash, IN8bio is implementing cost-saving measures, including a 49% workforce reduction.
September 05, 2024 | 3:37 pm
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IN8bio's stock is under pressure due to a strategic shift towards focusing on clinical data from the INB-100 trial and significant cost-cutting measures, including a 49% workforce reduction.
The announcement of a strategic focus on the INB-100 trial and significant cost-cutting measures, including a large workforce reduction, suggests financial strain and operational changes. This is likely to negatively impact investor sentiment in the short term.
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