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BRIEF-Oncomed reports workforce reduction

April 24 Oncomed Pharmaceuticals Inc:

* Oncomed announces workforce reduction

* Oncomed Pharmaceuticals Inc - oncomed will reduce its workforce by approximately 50 percent, resulting in 64 remaining full-time employees

* Oncomed Pharmaceuticals Inc - company anticipates having sufficient cash to fund operations through q3 2019

* Oncomed Pharmaceuticals Inc - anticipates having sufficient cash to fund operations through q3 2019

* Oncomed Pharmaceuticals - expects to realize significant cost savings of about $60 million over next 2 years associated with personnel, operating expenses

* Oncomed Pharmaceuticals - estimates one-time severance related charges of $2.6 million related to termination benefits and other related expenses

* Oncomed Pharmaceuticals Inc - adjusted guidance for its anticipated 2017 expenses to approximately $90 million

* Oncomed Pharmaceuticals Inc - majority of severance-related charges will be paid by end of q2 of 2017

* Oncomed Pharmaceuticals Inc - "will also seek to maximize value from potential interest in partnering assets to which it has worldwide rights" Source text for Eikon: Further company coverage:

我们的标准: 汤森路透“信任原则

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