TSVT - 2seventy Bio's Cost Cuts Prudent But Analyst Says It Induces Lower Confidence In Lead Product | Benzinga
Guggenheim Partners downgraded 2seventy Bio Inc (NASDAQ: TSVT) to Neutral from Buy and removed the price target.
On Tuesday, 2seventy Bio announced restructuring its business operations and research and development model to reduce costs.
Approximately 40% workforce reduction combined with related actions expected to achieve over $130 million in savings in 2024-2025, with a projected cash runway into at least 2026.
CEO Nick Leschly announces plans to step down and transition to Chairman of the Board of ...