Repare Therapeutics (RPTX) just unveiled an announcement.
Repare Therapeutics Inc. is refocusing its research and development, concentrating on four clinical programs and reducing its workforce by 25%, primarily impacting its preclinical group. This restructuring is expected to incur charges between $1.5 million and $2.0 million for termination benefits, with the aim of substantial completion by the end of the third quarter of 2024. The company anticipates these changes will extend its operational funding into the second half of 2026, yielding an estimated $15 million in annual cost savings. However, these forward-looking statements are subject to risks and uncertainties that could affect the actual outcomes, including the successful implementation of the changes and the realization of the anticipated cost savings.
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