Rocket Pharmaceuticals Announces Strategic Reorganization with 30% Workforce Reduction to Cut Operating Expenses by 25%
Reuters
Jul 24
Rocket Pharmaceuticals Announces Strategic Reorganization with 30% Workforce Reduction to Cut Operating Expenses by 25%
Rocket Pharmaceuticals Inc. has announced a strategic corporate reorganization aimed at maximizing near-term value and positioning the company for long-term growth. Approved by the Board of Directors on June 18, 2025, the plan includes a workforce reduction of approximately 30%, affecting around 80 employees, and is expected to be completed by August 8, 2025. The reorganization is projected to cut operating expenses by nearly 25% over the next year and extend the company's operational runway into the second quarter of 2027. Rocket Pharmaceuticals anticipates incurring approximately $3.5 million in restructuring charges primarily related to employee severance and termination benefits. The company acknowledges that additional unforeseen expenses may arise, and actual costs could differ from current estimates.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Rocket Pharmaceuticals Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001140361-25-026946), on July 23, 2025, and is solely responsible for the information contained therein.
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.