Neximmune implements 53% workforce reduction to focus on nanoparticle injection

NexImmune announced that, in order to reduce its cash expenditures while continuing to pursue its existing strategic plan, its Board of Directors approved and its management is implementing an approximately 53% reduction in workforce, designed to reduce costs and extend the company’s cash. The realignment will reduce the company’s workforce from 47 to 22 full-time employees as of September 5. In connection with the workforce reduction, CFO John Trainer will depart the company effective as of September 2. Trainer will transition to providing consulting and advisory services to the company pursuant to a consulting agreement.