08:50 AM EDT, 03/18/2025 (MT Newswires) -- TC BioPharm ( TCBP ) said Tuesday that it is planning to outsource various functions and switch to a "more decentralized" model, resulting in a workforce reduction of 20 employees.

The clinical-stage company said it plans to implement a contract development and manufacturing organization model for production and will consider options for new production sites using newly developed automated and other cell therapy production technologies, TC Biopharm ( TCBP ) said.

The company said it expects to complete the workforce reduction by the end of Q2 and to reduce the core operational burn rate by 55%, resulting in $2.1 million in partial 2025 savings and $4.2 million in annualized savings.

Shares of the company were up more than 3% in recent Tuesday premarket activity.