Achilles Therapeutics Announces Strategic Update RHEA-AI IMPACT Rhea-Al SentIment TAGS (Moderate) (Neutral) RHEA-AISUMMARY Achilles Therapeutics (NASDAQ: ACHL) has announced a strategic update, discontinuing its TIL-based cNeT therapy program and closing the Phase l/lla CHIRON and THETIS clinical trials. The company will refocus on exploring partnerships with third parties developing alternative modalities targeting clonal neoantigens for cancer treatment. Achilles has engaged BofA Securities to advise on value-maximizing strategies, Key points: Cash position of $95.1 million as of June 30, 2024 Implementing workforce reduction and cost-cutting measures Full clinical data from CHIRON and THETIS trials to be presented in an upcoming • forum • Exploring strategic alternatives, including potential acquisition, merger, or asset sale
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