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By Ben Glickman
Galecto will explore strategic alternatives, including an acquisition, merger or divestiture, and will cut 70% of its workforce, the Boston-based biotechnology company said Tuesday.
The company said it would reduce its workforce by about 29 people. It said it hasn’t set a timetable for evaluating alternatives after it completed a review of its business.
As of June 30, the company had a cash, cash equivalent and investments balance of $52.1 million.
Write to Ben Glickman at [email protected]
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