Editas Medicine announced on December 12, 2024, a critical strategic pivot to become a fully in vivo gene editing company, discontinuing the clinical development and potential commercialization of its lead ex vivo program, reni-cel. This decision was made to optimize the Company's cost structure and accelerate its intent to achieve in vivo human proof of concept in approximately two years.
In connection with this transition, Editas Medicine initiated a reduction in headcount, eliminating approximately 65% of its workforce, or around 180 positions, over the next six months. This restructuring is expected to result in significant charges in the first quarter of 2025.
The Company expects its cash runway to extend into the second quarter of 2027 following this strategic realignment. Additionally, Chief Medical Officer Baisong Mei, M.D., Ph.D., will depart, and board members Emma Reeve and Meeta Chatterjee, Ph.D., are resigning, with Jessica Hopfield, Ph.D., named Chair of the Board, effective December 31, 2024.
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