Adaptimmune Therapeutics to Cut Workforce by 33%

Dow Jones

13 Nov 2024

Adaptimmune Therapeutics PLC4.98%Post-market

By Sabela Ojea

Adaptimmune Therapeutics said it is reducing its workforce by 33% to create a leaner company that would spend less money than it makes in 2027.

The clinical-stage biopharmaceutical company on Wednesday said the workforce reduction, expected in the first quarter of 2025, is part of a plan to reach about $300 million in cost savings over the next four years.

The round of layoffs would affect nearly 150 employees. Adaptimmune Therapeutics had 449 employees as of Dec. 31, 2023, according to its annual filing with the Securities and Exchange Commission.

The restructuring, expected to reduce operating costs by about 25% in the first year, will lead to a prioritization of the commercial sarcoma franchise and research and development programs.

The company will also cease enrollment in the SURPASS-3 Phase 2 clinical trial, investigating uza-cel for the treatment of platinum-resistant ovarian cancer.

"With these actions we have a clear path to operating breakeven during 2027," Chief Executive Adrian Rawcliffe said, adding that the company has increased confidence in its $400 million peak year sales estimate for the combined sarcoma franchise.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

November 13, 2024 17:21 ET (22:21 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

no data

No relevant data is available

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2483866205"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2483866205\",edition:\"fundamental\",,,undefined,":{"share":"https://ttm.financial/m/news/2483866205?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-14 06:21","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2483866205","market":"hk","top_or_hot":-1,"title":"Adaptimmune Therapeutics to Cut Workforce by 33%","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Sabela Ojea \n</p>\n<pre>\n \n</pre>\n<p>\n  Adaptimmune <a href=\"https://laohu8.com/S/LENZ\">Therapeutics</a> said it is reducing its workforce by 33% to create a leaner company that would spend less money than it makes in 2027. \n</p>\n<p>\n  The clinical-stage biopharmaceutical company on Wednesday said the workforce reduction, expected in the first quarter of 2025, is part of a plan to reach about $300 million in cost savings over the next four years. \n</p>\n<p>\n  The round of layoffs would affect nearly 150 employees. Adaptimmune Therapeutics had 449 employees as of Dec. 31, 2023, according to its annual filing with the Securities and Exchange Commission. \n</p>\n<p>\n  The restructuring, expected to reduce operating costs by about 25% in the first year, will lead to a prioritization of the commercial sarcoma franchise and research and development programs. \n</p>\n<p>\n  The company will also cease enrollment in the SURPASS-3 Phase 2 clinical trial, investigating uza-cel for the treatment of platinum-resistant ovarian cancer. \n</p>\n<p>\n  \"With these actions we have a clear path to operating breakeven during 2027,\" Chief Executive Adrian Rawcliffe said, adding that the company has increased confidence in its $400 million peak year sales estimate for the combined sarcoma franchise. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 13, 2024 17:21 ET (22:21 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Adaptimmune Therapeutics to Cut Workforce by 33%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAdaptimmune Therapeutics to Cut Workforce by 33%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-11-14 06:21</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Sabela Ojea \n</p>\n<pre>\n \n</pre>\n<p>\n  Adaptimmune <a href=\"https://laohu8.com/S/LENZ\">Therapeutics</a> said it is reducing its workforce by 33% to create a leaner company that would spend less money than it makes in 2027. \n</p>\n<p>\n  The clinical-stage biopharmaceutical company on Wednesday said the workforce reduction, expected in the first quarter of 2025, is part of a plan to reach about $300 million in cost savings over the next four years. \n</p>\n<p>\n  The round of layoffs would affect nearly 150 employees. Adaptimmune Therapeutics had 449 employees as of Dec. 31, 2023, according to its annual filing with the Securities and Exchange Commission. \n</p>\n<p>\n  The restructuring, expected to reduce operating costs by about 25% in the first year, will lead to a prioritization of the commercial sarcoma franchise and research and development programs. \n</p>\n<p>\n  The company will also cease enrollment in the SURPASS-3 Phase 2 clinical trial, investigating uza-cel for the treatment of platinum-resistant ovarian cancer. \n</p>\n<p>\n  \"With these actions we have a clear path to operating breakeven during 2027,\" Chief Executive Adrian Rawcliffe said, adding that the company has increased confidence in its $400 million peak year sales estimate for the combined sarcoma franchise. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 13, 2024 17:21 ET (22:21 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ADAP","symbol_name":"Adaptimmune Therapeutics plc","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2483866205","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483866205","pubTimestamp":1731536460,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Adaptimmune Therapeutics said it is reducing its workforce by 33% to create a leaner company that would spend less money than it makes in 2027.The clinical-stage biopharmaceutical company on Wednesday said the workforce reduction, expected in the first quarter of 2025, is part of a plan to reach about $300 million in cost savings over the next four years.The round of layoffs would affect nearly 150 employees. Adaptimmune Therapeutics had 449 employees as of Dec. 31, 2023, according to its annual filing with the Securities and Exchange Commission.The restructuring, expected to reduce operating costs by about 25% in the first year, will lead to a prioritization of the commercial sarcoma franchise and research and development programs.The company will also cease enrollment in the SURPASS-3 Phase 2 clinical trial, investigating uza-cel for the treatment of platinum-resistant ovarian cancer.\"With these actions we have a clear path to operating breakeven during 2027,\" Chief Executive Adrian ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"ADAP":"Adaptimmune Therapeutics plc","LENZ":"Therapeutics","BK4139":"生物科技"},"translate_title":"Adaptimmune Therapeutics将裁员33%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ADAP":0.9,"LENZ":1},"content_text":"By Sabela Ojea \n\n\n \n\n\n  Adaptimmune Therapeutics said it is reducing its workforce by 33% to create a leaner company that would spend less money than it makes in 2027. \n\n\n  The clinical-stage biopharmaceutical company on Wednesday said the workforce reduction, expected in the first quarter of 2025, is part of a plan to reach about $300 million in cost savings over the next four years. \n\n\n  The round of layoffs would affect nearly 150 employees. Adaptimmune Therapeutics had 449 employees as of Dec. 31, 2023, according to its annual filing with the Securities and Exchange Commission. \n\n\n  The restructuring, expected to reduce operating costs by about 25% in the first year, will lead to a prioritization of the commercial sarcoma franchise and research and development programs. \n\n\n  The company will also cease enrollment in the SURPASS-3 Phase 2 clinical trial, investigating uza-cel for the treatment of platinum-resistant ovarian cancer. \n\n\n  \"With these actions we have a clear path to operating breakeven during 2027,\" Chief Executive Adrian Rawcliffe said, adding that the company has increased confidence in its $400 million peak year sales estimate for the combined sarcoma franchise. \n\n\n \n\n\n  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 13, 2024 17:21 ET (22:21 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"}}}

If the download button clicks without skipping, click on the top right menu and select "Open in Browser."

Consult now
Download APP
Scan QR code to download the app.