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HilleVax, Inc ( (HLVX) ) just unveiled an announcement.
HilleVax, Inc. is reducing its workforce by 70% to cut costs while continuing to pursue the development of its norovirus vaccine and other strategic opportunities. This move is expected to incur costs of $6.1 million primarily in severance and related expenses, with major recognition of these charges in Q4 2024. Additionally, key executives are transitioning to consultancy roles or other positions within the company, with severance and other benefits outlined.
Find detailed analytics on HLVX stock on TipRanks’ Stock Analysis page.