"This reduction in force is a difficult but necessary step as we refocus
our development priorities for CRLX101, our lead NDC candidate," said
Cerulean expects the reduction in force to result in approximately
The Cerulean team is committed to improving treatment for people living with cancer. We apply our Dynamic Tumor Targeting™ Platform to create a portfolio of NDCs designed to selectively attack tumor cells, reduce toxicity by sparing the body's normal cells, and enable therapeutic combinations. Our first platform-generated NDC clinical candidate, CRLX101, is in multiple clinical trials in combination with other cancer treatments, all of which aim to unlock the power of combination therapy. Our second platform-generated NDC clinical candidate, CRLX301, is in a Phase 1/2a clinical trial. For more information, please visit www.ceruleanrx.com.
Cautionary Note on Forward Looking Statements
Any statements in this press release about our future expectations,
plans and prospects, including statements about the expected timing for
completion of our workforce reduction and the expected savings in
annualized operating expenses and charges resulting from the workforce
reduction, and other statements containing the words "anticipate,"
"believe," "continue," "could," "estimate," "expect," "hypothesize,"
"intend," "may," "plan," "potential," "predict," "project," "should,"
"target," "would," and similar expressions, constitute forward-looking
statements within the meaning of The Private Securities Litigation
Reform Act of 1995. Actual results may differ materially from those
indicated by such forward-looking statements as a result of various
important factors, including: the uncertainties inherent in the
initiation and completion of clinical trials, availability and timing of
data from ongoing and future clinical trials and the results of such
trials, whether preliminary results from a clinical trial will be
predictive of the final results of that trial or whether results of
early clinical trials will be indicative of the results of later
clinical trials, expectations for regulatory approvals, availability of
funding sufficient for our foreseeable and unforeseeable operating
expenses and capital expenditure requirements and other factors
discussed in the "Risk Factors" section of our Quarterly Report on Form
10-Q filed with the
Director, Investor Relations and Corporate Communications
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