Neoleukin initiates strategic alternatives review, cuts workforce by 70%, CEO Drachman to step down

Neurogene Inc.

Engaged SVB Securities to explore sale, merger, asset divestiture, licensing, or other transaction to maximize shareholder value.
Board approved 70% workforce reduction to preserve cash; completion expected in first half of 2023.
CEO Jonathan Drachman, M.D., stepping down after a short transition period.
No assurance that any transaction will occur or on attractive terms; company will not disclose updates until definitive agreements reached.

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