Artiva Biotherapeutics Shares Plunge Following Discontinuation of Lead Asset and Mass Layoffs
Artiva Biotherapeutics (ARTV) experienced a significant stock decline of over 30% in premarket trading on Tuesday. The company announced it is discontinuing further clinical studies into its lead cell therapy candidate, AlloNK, following findings from investigators. In conjunction with the discontinuation of its primary asset, Artiva is implementing massive workforce reductions, laying off approximately 94% of its staff. This strategic pivot marks a major setback for the biotechnology developer as it scales back operations significantly.
Tickers: $ARTV
Topics: clinical trial discontinuation layoffs stock price drop