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Oncternal Therapeutics ( (ONCT) ) has shared an announcement.
Oncternal Therapeutics, Inc. is reducing its workforce by 37%, approximately 10 employees, to slash operating expenses and focus on strategic business development for its clinical programs. This cut, including the departure of Chief Medical Officer Dr. Salim Yazji, is part of cost-saving measures as Oncternal halts clinical trials for two cancer treatments, ONCT-534 and ONCT-808, due to insufficient clinical benefits and high development costs. Oncternal is now pursuing strategic alternatives, such as asset sales or mergers, to maximize shareholder value while pausing product development activities.
For a thorough assessment of ONCT stock, go to TipRanks’ Stock Analysis page.
