Oncternal Therapeutics Cuts Jobs, Discontinues Product Development Amid Business Review

Dow Jones

Sep 13, 2024

By Sabela Ojea

Oncternal Therapeutics said it is reducing its workforce as it discontinues all product development while it goes through a strategic business review.

The clinical-stage oncology company on Thursday said that it will cut its workforce by 37%, equal to about 10 employees, to reduce its operating expenses. The move was unanimously approved by the board of directors a day earlier.

The company, which expects to book termination costs of about $1 million, said the decision comes after the results of ONCT-534 and ONCT-808 didn't show meaningful improvements or anti-tumor activity, respectively.

Oncternal Therapeutics is terminating these studies and will focus on exploring strategic alternatives including asset sales, licensing or other strategic transactions, and a merger, reverse merger or acquisition.

Write to Sabela Ojea at sabela.ojea@wsj.com

(END) Dow Jones Newswires

September 12, 2024 18:14 ET (22:14 GMT)

At the request of the copyright holder, you need to log in to view this content

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.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2467307527"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2467307527\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2467307527?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-09-13 06:14","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2467307527","market":"other","top_or_hot":-1,"title":"Oncternal Therapeutics Cuts Jobs, Discontinues Product Development Amid Business Review","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Sabela Ojea \n</p>\n<pre>\n \n</pre>\n<p>\n  Oncternal <a href=\"https://laohu8.com/S/LENZ\">Therapeutics</a> said it is reducing its workforce as it discontinues all product development while it goes through a strategic business review. \n</p>\n<p>\n  The clinical-stage oncology company on Thursday said that it will cut its workforce by 37%, equal to about 10 employees, to reduce its operating expenses. The move was unanimously approved by the board of directors a day earlier. \n</p>\n<p>\n  The company, which expects to book termination costs of about $1 million, said the decision comes after the results of ONCT-534 and ONCT-808 didn't show meaningful improvements or anti-tumor activity, respectively. \n</p>\n<p>\n  Oncternal Therapeutics is terminating these studies and will focus on exploring strategic alternatives including asset sales, licensing or other strategic transactions, and a merger, reverse merger or acquisition. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Sabela Ojea at sabela.ojea@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 12, 2024 18:14 ET (22:14 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oncternal Therapeutics Cuts Jobs, Discontinues Product Development Amid Business Review</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOncternal Therapeutics Cuts Jobs, Discontinues Product Development Amid Business Review\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-09-13 06:14</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Sabela Ojea \n</p>\n<pre>\n \n</pre>\n<p>\n  Oncternal <a href=\"https://laohu8.com/S/LENZ\">Therapeutics</a> said it is reducing its workforce as it discontinues all product development while it goes through a strategic business review. \n</p>\n<p>\n  The clinical-stage oncology company on Thursday said that it will cut its workforce by 37%, equal to about 10 employees, to reduce its operating expenses. The move was unanimously approved by the board of directors a day earlier. \n</p>\n<p>\n  The company, which expects to book termination costs of about $1 million, said the decision comes after the results of ONCT-534 and ONCT-808 didn't show meaningful improvements or anti-tumor activity, respectively. \n</p>\n<p>\n  Oncternal Therapeutics is terminating these studies and will focus on exploring strategic alternatives including asset sales, licensing or other strategic transactions, and a merger, reverse merger or acquisition. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Sabela Ojea at sabela.ojea@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 12, 2024 18:14 ET (22:14 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4139","symbol_name":"生物科技","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2467307527","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2467307527","pubTimestamp":1726179240,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Oncternal Therapeutics said it is reducing its workforce as it discontinues all product development while it goes through a strategic business review.The clinical-stage oncology company on Thursday said that it will cut its workforce by 37%, equal to about 10 employees, to reduce its operating expenses. The move was unanimously approved by the board of directors a day earlier.The company, which expects to book termination costs of about $1 million, said the decision comes after the results of ONCT-534 and ONCT-808 didn't show meaningful improvements or anti-tumor activity, respectively.Oncternal Therapeutics is terminating these studies and will focus on exploring strategic alternatives including asset sales, licensing or other strategic transactions, and a merger, reverse merger or acquisition.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4139":"生物科技","ONCT":"Oncternal Therapeutics, Inc.","LENZ":"Therapeutics"},"translate_title":"Oncternal Therapeutics在业务审查期间裁员并停止产品开发","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ONCT":0.9,"LENZ":1},"content_text":"By Sabela Ojea \n\n\n \n\n\n  Oncternal Therapeutics said it is reducing its workforce as it discontinues all product development while it goes through a strategic business review. \n\n\n  The clinical-stage oncology company on Thursday said that it will cut its workforce by 37%, equal to about 10 employees, to reduce its operating expenses. The move was unanimously approved by the board of directors a day earlier. \n\n\n  The company, which expects to book termination costs of about $1 million, said the decision comes after the results of ONCT-534 and ONCT-808 didn't show meaningful improvements or anti-tumor activity, respectively. \n\n\n  Oncternal Therapeutics is terminating these studies and will focus on exploring strategic alternatives including asset sales, licensing or other strategic transactions, and a merger, reverse merger or acquisition. \n\n\n \n\n\n  Write to Sabela Ojea at sabela.ojea@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 12, 2024 18:14 ET (22:14 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}