Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) is one of the biotech stocks to buy according to Wall Street analysts. On July 24, Rocket Pharmaceuticals announced a corporate reorganization and pipeline prioritization to maximize near-term value and extend its operational runway.
This initiative, approved by the Board of Directors on June 18, focuses the company’s resources on its adeno-associated virus/AAV cardiovascular platform and regulatory activities for KRESLADI (formerly RP-L201), its lentiviral therapy for severe leukocyte adhesion deficiency-I (LAD-I).
A pharmacist handing a customer a bottle of new anti-viral drugs utilizing DehydraTECH bio-absorption.
The restructuring involves a workforce reduction of ~30% and other cost-saving measures, which are expected to reduce Rocket’s 12-month operating expenses by ~25%. The company anticipates incurring ~$3.5 million in restructuring charges in H2 2025. With these adjustments, Rocket Pharmaceuticals expects its current cash resources, excluding any potential proceeds from a Priority Review Voucher from KRESLADI’s FDA approval, to fund operations into Q2 2027.
Rocket Pharmaceuticals Inc. is a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases in the US.
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This article is originally published at Insider Monkey.
