Rocket Pharmaceuticals (RCKT) to cut 30% staff

On July 23, 2025, Rocket Pharmaceuticals (NASDAQ: RCKT) began implementation of a strategic corporate reorganization and pipeline prioritization aimed at maximizing near-term value, extending operational runway into the second quarter of 2027, and positioning the company for sustained long-term growth (the “Plan”). The Company’s Board of Directors unanimously approved the Plan on June 18, 2025. As part of the restructuring, the Company will implement a reduction in workforce of approximately 30% (the “RIF”), which, along with other planned cost-saving initiatives, is expected to reduce Rocket’s 12-month operating expenses by nearly 25%. The Company began notifying affected employees on July 23, 2025, and expects the RIF to be completed by August 8, 2025.
The Company estimates that it will incur approximately $3.5 million in restructuring and restructuring-related charges in the second half of 2025 in connection with the Plan, consisting primarily of employee severance payments and other termination benefits to approximately 80 employees. The foregoing estimated amounts do not include any non-cash charges associated with equity-based compensation.
Further, the Company may incur additional expenses not currently contemplated due to events associated with the Plan. The charges that the Company expects to incur in connection with the Plan and operating expense reductions are estimates and subject to a number of assumptions, and actual charges and expenses may differ materially from those estimates disclosed above.

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