JNCE - Jounce Therapeutics to restructure lay off more than half of workforce; stock jumps 15%
- Jounce Therapeutics ( NASDAQ: JNCE ) will let go of 57% of its employees as part of a restructuring.
- The stock is up 15% in after-hours trading.
- Jounce noted that because it needs additional funding for its clinical programs JTX-8064 and vopratelimab, both of which are in phase 2, it will pursue business partnerships.
- The restructuring will result in a non-recurring charge of ~$11.2M .
- Read why Seeking Alpha contributor E. Roudasev rated Jounce ( JNCE ) a strong buy.
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Jounce Therapeutics to restructure, lay off more than half of workforce; stock jumps 15%