BUZZ-<a href="https://laohu8.com/S/APLMW">Apollomics</a> tumbles as cash crunch forces layoffs, trial shutdown** Shares of Apollomics APLM.O fall 16.5% to $5.20 premarket
** The biotech firm has terminated all U.S. staff, including its CEO and CFO, due to cash constraints, it said in a SEC filing
** Co also plans to halt all activities related to its lung cancer trial
** Last year, co said its blood cancer therapy combined with chemotherapy failed to show survival benefit over chemotherapy alone in a late-stage trial
** Apollomics has called a Sept 4 extraordinary general meeting of shareholders to vote on winding up of the company
** As of last close, stock down 36% YTD
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.