RUBY - Rubius stock falls over 5% after hours on strategic review more job cuts

• Rubius Therapeutics ( NASDAQ: RUBY ) stock fell 5.9% after hours on Wednesday as the firm initiated a review of strategic alternatives to maximize shareholder value, including a sale of all or part of the company or a merger.
• The firm is also reducing its workforce by 84% and will retain certain employees to execute the process.
• Rubius ( RUBY ) appointed its COO Dannielle Appelhans as president and CEO, effective Nov. 15.
• Current president and CEO Pablo Cagnoni was named chair of the board, effective immediately.
• CFO Pepe Carmona has also stepped down.
• Rubius ( RUBY ) said it recently generated new non-human primate data with the next generation cell conjugation RED PLATFORM.
• The data showed longer circulation time than observed with the first generation platform and increased levels of interferon gamma, a cytokine that is key for immune responses.
• Rubius ( RUBY ) advanced a next generation red cell therapeutic RTX-250 designed to activate dendritic cells.
• The company earlier discontinued trials for RTX-240 and RTX-224 and reduced its workforce by 75% .

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