(Reuters) -Gene editing company Allogene Therapeutics said on Friday it will cut 22% of its workforce as part of a clinical development strategy aimed at prioritizing its product pipeline.
As of February 2023, Allogene had 361 employees.
Allogene estimates it will incur charges of about $5.0 million to $5.5 million associated with the layoffs.
The reduction in workforce is expected to be completed by the end of January 2024.
(Reporting by Christy Santhosh; Editing by Krishna Chandra Eluri)
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