Alaunos' Runway Cut Short as TCR Biotech Seeks Sale and Shrinks Staff

TCR-T biotech Alaunos Therapeutics, formerly known as Ziopharm Oncology, will close its lead program, lay off 60% of its staff, and seek a sale or other transaction as its cash runway dwindles to just a few months. With $18.3 million in cash at the end of June, the Houston-based drugmaker expects to have enough funds to last until the fourth quarter of this year.