Charlestown, Massachusetts-based Ziopharm Oncology, a bioengineering company specializing in immuno-oncology medicines to activate the immune system to target multiple cancers, has announced a major restructuring and cost reduction program to "extend the cash runway into the first half of 2023."
The restructuring program will impact 50% of the company's personnel or approximately 60 employees.
According to the recently hired Kevin Boyle, Ziopharm's new CEO, “We appreciate the many contributions the impacted employees made to Ziopharm and we commit to supporting these valued colleagues during this transition. We believe today’s strategic decision was necessary to create an organization structured and staffed for success and focused on the goal of generating clinical data in our promising TCR-T Library program. I am confident in the ability of our highly talented team to execute our strategy.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?