Form 8-K 2seventy bio, Inc. For: Sep 08
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Goldman Sachs Downgrades 2Seventy Bio Inc. (TSVT) to Neutral, 'Monitoring execution on Abecma and the pipeline'
September 13, 2023 7:58 AM EDTGoldman Sachs analyst Salveen Richter downgraded 2Seventy Bio Inc. (NASDAQ: TSVT) from Buy to Neutral with a price target of $5.00.
The analyst comments "
TSVT announced a strategic restructuring, including a 40% workforce reduction, to prioritize Abecma growth, streamline pipeline advancement and preserve cash runway and lowered US FY23 Abecma revenue guidance for a second time (previously in conjunction with BMYs 2Q23 earnings)... More
2seventy bio (TSVT) to Cut 40% Staff
September 12, 2023 7:15 AM EDTOn September 12, 2023, 2seventy bio (NASDAQ: TSVT) announced a strategic restructuring, including plans to reduce its workforce by approximately 40%. The Company expects this workforce reduction and restructuring will preserve its cash runway into 2026 and will be substantially completed by the fourth quarter of 2023.
In connection... More
