06:19 PM EDT, 06/12/2024 (MT Newswires) -- Barinthus Biotherapeutics ( BRNS ) plans to cut 25% of its workforce to focus on development of VTP-300 for chronic Hepatitis B and VTP-1000 for celiac disease following positive interim data from trials.

The "pipeline prioritization" is expected to extend the cash runway into Q2 2026, the company said late Wednesday in a statement. The phase 1 trial of VTP-850 for prostate cancer will be competed, the company said.

Phase 2 results for VTP-300 have displayed the treatment's potential to reduce and maintain levels of Hepatitis B surface antigen, the company said.

VTP-1000 preclinical results have shown a balancing immune response, and a phase 1 clinical trial is set for Q3, the company said.

The company's shares rose 5.3% in recent after-hours activity.

Price: 2.0000, Change: +0.10, Percent Change: +5.26