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TC BioPharm Unveils Corporate Restructuring Plan; To Cut Up To 30% Of Workforce

RTTNews | 608 hari yang lalu

TC BioPharm Unveils Corporate Restructuring Plan; To Cut Up To 30% Of Workforce

(RTTNews) - Biotechnology company TC BioPharm (Holdings) plc (TCBP) announced Wednesday a corporate restructuring plan to reduce costs and prioritize its pending lead US clinical programs.

In connection with the restructuring, the Company is reducing its workforce up to 30%, with the majority of the reduction expected to be completed during the first half 2023. The remaining team will support both current and future clinical trials and combination trials of our lead therapeutic TCB-008, as well as the allogeneic CAR modified gamma delta program.

In total, these restructuring actions are expected to result in cost savings in excess of $3 million on an annual basis. This an initial step the Company is taking to reduce its cost structure and to streamline operations in line with an updated corporate strategy.

TCBP will continue to implement additional cost savings programs and review non-dilutive funding options as well as strategic collaborations and partnerships.

Teg: TCBP

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TC BioPharm Inks LOI To Acquire Privately-held CAR-T Therapy Innovator

TC BioPharm Inks LOI To Acquire Privately-held CAR-T Therapy Innovator

Biotechnology company TC BioPharm (Holdings) plc (TCBP) announced Monday the execution of a non-binding letter of intent to acquire a privately-held biotechnology company pursuing the development of innovative Chimeric Antigen Receptor T-cell (CAR-T) therapies for the treatment of refractory cancers and solid tumors.

RTTNews | 197 hari yang lalu

U.S. Housing Starts Tumble 3.1% In October, More Than Expected

U.S. Housing Starts Tumble 3.1% In October, More Than Expected

New residential construction in the U.S. tumbled by more than expected in the month of October, according to a report released by the Commerce Department on Tuesday. The report said housing starts dove by 3.1 percent to an annual rate of 1.311 million in October after slumping by 1.9 percent to a revised rate of 1.353 million in September.

RTTNews | 7j 5min yang lalu

U.S. Housing Starts Tumble More Than Expected In October

U.S. Housing Starts Tumble More Than Expected In October

New residential construction in the U.S. tumbled by more than expected in the month of October, according to a report released by the Commerce Department on Tuesday.

RTTNews | 8j 3min yang lalu

Eurozone Inflation Rises To 2% As Estimated

Eurozone Inflation Rises To 2% As Estimated

Eurozone inflation returned to the 2 percent target in October, final data from Eurostat showed on Tuesday. The harmonized index of consumer prices climbed as initially estimated in October after rising 1.7 percent in September. Core inflation that excludes prices of energy, food, alcohol and tobacco, remained unchanged at 2.7 percent in October.

RTTNews | 8j 23min yang lalu

Bay Street Seen Opening Lower On Geopolitical Concerns; Canadian Inflation Data In Focus

Bay Street Seen Opening Lower On Geopolitical Concerns; Canadian Inflation Data In Focus

Canadian shares look headed for a weak start on Tuesday amid rising geopolitical concerns after Russian President Vladimir Putin updated nuclear doctrine.

RTTNews | 8j 47min yang lalu

Euro Slides Against Majors

Euro Slides Against Majors

The euro weakened against other major currencies in the European session on Tuesday, as traders are worried that protectionist policies by President-elected Donald Trump could disrupt the Eurozone's growth potential.

RTTNews | 8j 53min yang lalu

FTSE 100 Slips As Geopolitics Weighs

FTSE 100 Slips As Geopolitics Weighs

The FTSE 100 benchmark of the London Stock Exchange aligned with the trend in European markets to trade in the red amidst a massive spike in geopolitical concerns. However, the index managed to outperform its European peers.

RTTNews | 8j 57min yang lalu

European Stocks Tumble As Russia-Ukraine War Hurts Sentiment

European Stocks Tumble As Russia-Ukraine War Hurts Sentiment

European stocks are reeling under a bout of selling pressure on Tuesday following an escalation in the Russia - Ukraine war, and amid uncertainty about U.S. interest-rate trajectory and the outlook for global economic growth.

RTTNews | 9j 6min yang lalu

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