Thread by @yaireinhorn

1/@GraphiteBio announced that after reviewing its business, it decided to discontinue any further development of nulabeglogene autogedtemcel (nula-cel) for #SickleCell disease, to explore a range of strategic alternatives & to reduce 50% in its workforce! #CRISPR #BioTech $GRPH

2/@GraphiteBio is also exploring the potential to continue nula-cel development externally. $GRPH intends to continue research activities associated with its early-stage non- genotoxic conditioning program, with the goal of advancing toward potential development candidates.👇

https://twitter.com/yaireinhorn/status/1602685912676454400

3/In addition, @GraphiteBio’s Board of Directors has approved a corporate restructuring that would reduce the company’s workforce by approximately 50%, among other actions to reduce cash burn while the company explores strategic alternatives. $GRPH

4/As of December 31, 2022, the company had a preliminary unaudited amount of approximately $283.5 million in cash, cash equivalents & investments in marketable securities.

5/Here’s my 🧵 about @GraphiteBio’s recent announcement about pausing its Phase 1/2 #CEDAR study of nula-cel for #Sicklecell disease #SCD due to a serious adverse event in the first patient dosed & $GRPH conclusion that this event was likely related to the study treatment.👇

https://twitter.com/yaireinhorn/status/1611109775848411136