By Roshan Fernandez
Boundless Bio said it would reduce its workforce by about one-third as part of a portfolio prioritization.
The clinical-stage oncology company said it had 64 employees as of March 21, which would put the cuts at about 21 jobs. The company expects to incur about $1.2 million in one-time costs related to the job cuts, according to a filing with the Securities and Exchange Commission.
The San Diego company said the combination of efforts, which also include a streamlining of operations and short-term investments of $138.3 million, would extend its operating runway into the first half of 2028.
Boundless Bio said it is discontinuing a clinical trial, and prioritizing the novel combination of BBI-355 and BBI-825, along with its Kinesin program.
"We're concentrating our resources where we see the greatest potential to develop meaningful medicines," Chief Executive Zachary Hornby said.
Write to Roshan Fernandez at roshan.fernandez@wsj.com
(END) Dow Jones Newswires
May 23, 2025 16:44 ET (20:44 GMT)
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