Clinical Trial ResultsThe CHASE trial of KPI-012 did not meet the primary endpoint of complete healing of PCED and failed to achieve statistical significance for key secondary efficacy endpoints.
Strategic DecisionsManagement decided to cease development of KPI-012 and its mesenchymal stem cell secretome (MSC-S) platform due to the trial results.
Workforce ReductionThe company's workforce is being reduced by approximately 51%, indicating potential financial or strategic challenges.