Beam Therapeutics Implements Strategic Restructuring and Staff Reductions to Optimize Precision Genetic Medicines Pipeline
Beam Therapeutics, a biotechnology company specializing in precision genetic medicines, has announced a strategic restructuring and portfolio prioritization plan to focus on potential near-term value drivers and long-term growth. The company will prioritize the development of programs for sickle cell disease and alpha-1 antitrypsin deficiency, explore partnership opportunities for select programs, and reduce its workforce by approximately 20%. The anticipated cost savings are expected to extend the company's cash runway into 2026.