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TC BioPharm To Reduce Headcount By 50%

January 03, 2024 — 09:28 am EST

Written by RTTNews.com for RTTNews->

(RTTNews) - TC Biopharm (Holdings) Plc. (TCBP), a clinical-stage biopharmaceutical company, Wednesday announced its plan to lay off workers by 50% to reduce costs and expand its cash runway.

The company also intends to utilize Research and Development only for the development of commercial applications and manufacturing.

The company said that these measures would help to complete the ACHIEVE trial in 2024.

In the pre-market activity, TC BioPharm's stock climbed by 2.19%, to $3.1984 on the Nasdaq.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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