EDIT - Editas cuts 20% staff in portfolio overhaul

Editas Medicine ( NASDAQ: EDIT ) announced a ~20% reduction to the headcount on Monday amid a strategic reprioritization of its portfolio targeting hemoglobinopathies and in vivo gene editing.

Accordingly, the company has decided to focus its resources on EDIT-301, its lead program targeted at severe sickle cell disease and transfusion-dependent beta-thalassemia.

Editas ( EDIT ) is discontinuing the inherited retinal disease (IRD) programs and natural killer (iNK) cell programs seeking partnerships to further develop the candidates, including EDIT-101 for Leber Congenital Amaurosis 10 (LCA10) and EDIT-202 for solid tumors.

“….I strongly believe that refocusing our business around hemoglobinopathies and in vivo gene editing will best position the company to pursue our mission to deliver revolutionary medicines for people living with serious diseases,” Chief Executive Gilmore O’Neill remarked.

In conjunction with the portfolio optimization, Editas ( EDIT ) said that the company’s Chief Scientific Officer, Mark S. Shearman, will leave the company effective Mar. 31, and the search for his replacement is already underway.

“Mark’s leadership was integral in driving forward our programs, and we wish him well in his future endeavors,” O’Neill said ahead of a presentation at the 41st Annual J.P. Morgan Healthcare Conference on Tuesday.

In December, Seeking Alpha contributor Edmund Ingham highlighted three “positives” for Editas ( EDIT ) investors to consider as the new year arrived.

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