BenevolentAI Provides an Update on Its Business Priorities [Yahoo! Finance]
AstraZeneca PLC - American Depositary Shares (AZN)
Last astrazeneca plc - american depositary shares earnings: 2/5 04:00 pm
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Source: Yahoo! Finance
in applying advanced AI to accelerate biopharma drug discovery, today announces an update on its business priorities. Going forward the Company will focus on its AI-driven drug discovery collaboration and proprietary pipeline revenue generating pillars, following recent successes in these areas. The Board believes this focus will likely bring the greatest potential return for shareholders. Following completion of the market assessment of its Knowledge Exploration Tools, as noted at the time of the Company's full year results on 14 March 2024, work on the Knowledge Exploration Tools will cease, given the investment needed to fully commercialise this SaaS product and the estimated timeframe to see a potential meaningful financial return. The impact of these changes will be a reduction in headcount by c.30%, with cash burn reduced by c.20%, extending the Company's cash runway to late Q3 25, even after partial reinvestment of the savings into Phase Ib/IIa enabling studies for lead a
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AZN
Sec Filings
- 5/2/24 - Form 6-K
- 5/1/24 - Form 6-K
- 4/29/24 - Form 6-K
- AZN's page on the SEC website