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Kineta (KA) has issued an update.
Kineta, Inc. is actively exploring strategic alternatives to enhance shareholder value due to unmet funding obligations and insufficient cash to finance operations. The company will consider various options, such as selling its assets, merging, or even liquidating, while also terminating new patient enrollment in a clinical trial and curtailing operations. This move includes a workforce reduction and follows the recent termination of the CEO and General Counsel, both of whom will continue to provide consulting services during a transition period.
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