BLCM - Bellicum Pharma slashes headcount by 79%

Bellicum Pharmaceuticals (BLCM) announced restructuring program, wherein it will focus on the clinical development of BPX-601 and BPX-603, pause the BCMA GoCAR-NK program, and discontinue discovery research and new product development. Staff will be reduced by 79%, from 68 to 14 employees by the end of this yearBellicum expects to incur severance expenses of ~$2.5M, as well as intends to pay down all of its Oxford Finance debt obligations using cash on hand with payment of $27.4M.These actions are expected to reduce the company’s expenses and extend its cash runway. The company now expects annual cash utilization of $25-$30M.Additionally, the company has announced interim data from its BPX-601 trial, from four patients with relapsed/refractory metastatic pancreatic cancer.Patients treated with BPX-601 followed by repeat rimiducid dosing showed evidence of rimiducid-mediated CAR-T cell activation. though clinically meaningful efficacy as measured by RECIST criteria was not observed.Three patients achieved stable disease, and one with progressive

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Bellicum Pharma slashes headcount by 79%