FX.co ★ Barinthus Bio's UK COO, CFO To Leave, Plans To Cut 65% Headcount To Expand Cash Runway

Barinthus Biotherapeutics Plc. (BRNS) announced strategic initiatives on Friday aimed at substantial cost reductions, which may include the closure of its UK facility. According to the strategy, Graham Griffiths, the UK-based Chief Operating Officer, and Gemma Brown, the Chief Financial Officer, will step down from their roles. Furthermore, the plan includes laying off 65 percent of employees across two sites. The company anticipates that these measures will extend its financial runway until early 2027. Currently, Barinthus's stock is experiencing a decline of 4.58 percent, trading at $1.09 on the Nasdaq.