NexImmune Shifts Focus On AIM Direct Injection Platform, Potential Candidates In Oncology & Autoimmune Diseases - NexImmune (NASDAQ:NEXI)

NexImmune Inc NEXI announced the realignment of R&D resources to focus on the AIM Direct Injection (AIM INJ) platform and potential product candidates in oncology and autoimmune diseases.
The company will pause the development of its current adoptive cell therapy (AIM ACT) products in the NEXI-001 trial in relapsed refractory AML following hematopoietic stem cell transplantation (HSCT).
The company will not initiate the NEXI-003 trial in HPV-mediated tumors at this time, and, as previously disclosed, the NEXI-002 trial in multiple myeloma will also remain paused.
In August, NexImmune cited the competitive environment in the blood cancer space as the reason for pausing enrollment for NEXI-002 in multiple myeloma.
It is pursuing external clinical development through potential academic and corporate partners.
Also Read: NexImmune Shares Jump On Immunotherapy Pact For Rare Cancers, Autoimmune Disorders.
NexImmune will initiate a workforce reduction plan to reduce headcount by approximately 30%, and it estimates to incur approximately $0.7 million of costs related to the reduction in workforce.
Cash, cash equivalents, and marketable securities were $45.9 million expected to fund the company's operating and capital expenditure requirements through the third quarter of 2023.
Price Action: NEXI shares closed 4.28% higher at $0.49 during after-hours trading on Monday.