NexImmune Shifts Focus On AIM Direct Injection Platform, Potential Candidates In Oncology & Autoimmune Diseases

Vandana Singh
1 min read
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In this article:

  • NexImmune Inc (NASDAQ: 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.

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