Editas Medicine To Reduce Headcount By 20% As Part Of Reprioritization, CSO To Stepdown

(RTTNews) - Editas Medicine, Inc. (EDIT) Monday announced that as a result of the strategic reprioritization it plans to reduce headcount by approximately 20 percent and to extend the cash runway into 2025.

Editas Medicine's Chief Scientific Officer Mark S. Shearman will step down, effective March 31, 2023.

Editas Medicine also plans to prioritize resource allocation towards EDIT-301 clinical program for the treatment of severe sickle cell disease and transfusion-dependent beta-thalassemia.

The clinical stage genome editing company will discontinue internal investments in inherited retinal disease programs, including EDIT-101 for Leber Congenital Amaurosis 10 and EDIT-103 for rhodopsin-associated autosomal dominant retinitis pigmentosa.

The company will discontinue internal investments, including EDIT-202 for solid tumors.

Further, the company said it will restructure the research organization into two divisions.