Replies to post #244790 on Biotech Values

[DewDiligence]

KA—(-40%)—reduces workforce by 2/3—ceases clinical enrollment:

https://finance.yahoo.com/news/kineta-announces-restructuring-exploration-strategic-133000705.html

Kineta is reducing its workforce by approximately 64%, which will result in the elimination of seven positions. This includes Kineta’s Chief Executive Officer…

The restructuring includes…the termination of enrollment of new patients in its ongoing VISTA-101 Phase 1/2 clinical trial evaluating KVA12123 in patients with advanced solid tumors.

…The company has made this decision, in part, because certain investors have indicated they will not fulfill their funding obligations pursuant the previously disclosed second tranche of the company’s contemplated private placement later this year.

This is not something you see every day.

KA is the result of a 2022 reverse-merger (#msg-170732282).