10:33 AM EDT, 03/28/2024 (MT Newswires) -- Omega Therapeutics ( OMGA ) said Thursday it has cut its headcount by about 35% following a strategic review, extending its cash runway into Q1 of 2025.

The clinical-stage drugmaker also reported a net loss of $0.37 per share in Q4, compared with $0.64 loss a year ago.

Analysts polled by Capital IQ expected $0.45 loss.

Revenue for the quarter grew to $989,000 from $735,000. The consensus was for $530,000.

Omega shares were up more than 3% in recent trading.

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