Boundless Bio To Reduce Its Workforce By About One-third
(RTTNews) - Boundless Bio (BOLD), a clinical-stage oncology company, Friday said it would reduce its workforce by about one-third as it streamlines its operations.
The company said it is discontinuing current monotherapy and combination arms of BBI-355 in POTENTIATE clinical trial. It also plans to evaluate BBI-355 and BBI-825 as a combination therapy in the POTENTIATE clinical trial, targeting initiation in the second half of 2025.
"At Boundless, we're committed to delivering innovative therapies for patients with oncogene-amplified cancers through disciplined execution," said Zachary Hornby, President and Chief Executive Officer of Boundless Bio. "By prioritizing the novel combination of BBI-355 and BBI-825, along with our exciting Kinesin program, BBI-940, we're concentrating our resources where we see the greatest potential to develop meaningful medicines. These decisions extend our operating runway into the first half of 2028, which should enable us to reach initial clinical milestones for these programs with our current capital."
The company believes the combination of portfolio prioritization, streamlined operations, and its cash, cash equivalents, and short-term investments of $138.3 million as of March 31, 2025, will extend its operating runway into the first half of 2028 and through anticipated clinical proof-of-concept readouts for each of its therapeutic programs.
