Kinnate Biopharma, a leading precision oncology company, has announced a reduction in its workforce by 70% as part of its strategic review. The company expects to retain 28 full-time employees moving forward. In addition to this, Kinnate also plans to implement measures to reduce operating expenses, which includes separating from all employees of its subsidiary in China, Kinnjiu Biopharma.
According to Chief Executive Nima Farzan, these steps have been taken as part of an effort to streamline programs, teams, and operations in order to further advance research and provide significant benefits to both patients and shareholders.
Kinnate Biopharma has also outlined several key initiatives as part of its strategic plan. This includes prioritizing the development of the exarafenib combination, KIN-8741, and focusing on the discovery efforts surrounding its CDK4 selective program. The company has set a goal to file an investigational new drug application for KIN-8741 with the Food and Drug Administration in the fourth quarter.
As part of their strategic initiatives, Kinnate Biopharma will pause the development of KIN-7136 and explore alternative strategies for the exarafenib monotherapy and KIN-3248.
In summary, Kinnate Biopharma is taking decisive measures to optimize its operations and move forward with a more streamlined approach. By focusing on key initiatives and reducing expenses, the company aims to continue delivering significant advancements in precision oncology research.
PREVIOUS POST
