TD Cowen Downgrades 2Seventy Bio Inc. (TSVT) to Market Perform, 'Takeout Uncertain'
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2seventy bio Announces New Strategic Path Forward
January 30, 2024 7:01 AM EST
- Company to focus exclusively on commercialization and development of Abecma, in partnership with Bristol Myers Squibb -
- Company to sell R&D pipeline to Regeneron to launch Regeneron Cell Medicines business led by 2seventy bios Chief Scientific Officer, Philip Gregory
- Chip Baird named incoming Chief Executive Officer; Nick Leschly named incoming Chairman of Board of Directors -
- Expected annual cost savings of approximately $150 million in 2024 and $200 million in 2025; cash runway extended beyond 2027 -
- Conference call to be... More
