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LAVA is in a strong position to unlock strategic opportunities for the Company, in addition to our proprietary pipeline and partnered programs,” said Steve Hurly, Chief Executive Officer of LAVA.In connection with the evaluation of strategic alternatives, LAVA is implementing a restructuring plan that includes a workforce reduction of approximately thirty percent, furthering cost-containment and cash conservation measures. The Company intends to retain all employees essential for supporting value creation as part of its strategic review. 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