SGTX - Sigilon Therapeutics updates plans to prioritize MPS-1 and diabetes reduces workforce

Sigilon Therapeutics (NASDAQ:SGTX) announces a strategic reprioritization to focus on MPS-1 and diabetes. In November, the company reported that fibrosed spheres were observed during a retrieval procedure for the third patient enrolled in its Phase 1/2 study of SIG-001 in hemophilia A. SGTX plans to update regulatory agencies following the SIG-001 Safety Review Committee meeting scheduled this month and continue to follow all three patients per study protocol. In addition, Sigilon does not expect to initiate patient dosing in the Phase 1/2 trial of SIG-005 for MPS-1 until further investigation is complete. Also, the Company will reduce its full-time workforce by ~38%. The positions eliminated are primarily related to research, manufacturing, and general and administrative services. The significant reduction in expenses associated with the strategic reprioritization is expected to extend the Company’s cash runway into 2024. Shares rose 6.3% after-hours.

For further details see:

Sigilon Therapeutics updates plans to prioritize MPS-1 and diabetes, reduces workforce