05:35 PM EST, 12/12/2024 (MT Newswires) -- Editas Medicine ( EDIT ) said late Thursday that it will focus on in vivo CRISPR-edited medicines and end the development of reni-cel to optimize cost structure and extend cash runway into Q2 2027.

The strategic transition will help the company accelerate in vivo human proof of concept in about two years, the company said.

Editas said it will also eliminate 65% of its workforce over the next six months. Chief Medical Officer Baisong Mei will leave the company, while Jessica Hopfield will become chair of the board on Dec. 31.