BUZZ-HilleVax rises after disclosing plan to lay off 70% of employees

Reuters2024-12-06

** Shares of vaccine developer HilleVax rise ~14% to $2.13 premarket

** HLVX to lay of about 28 employees, or about 70% of its workforce, to reduce operating costs, co said on Thursday

** Co says remaining team will focus on developing norovirus vaccine candidates, HIL-214 and HIL-216

** Co estimates that it will incur charges associated with the workforce reduction of about $6.1 mln

** As of Dec. 31, 2023, HLVX had 90 full-time employees - SEC filling

** Earlier this year, HLVX laid off about 41 employees

** As of last close, stock has fallen 88.4% YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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