Lisata Cuts 72% of Workforce; Sues Kuva Labs for Merger Breach

Lisata Therapeutics has filed a lawsuit against Kuva Labs Inc. for breach of their merger agreement, seeking damages and a $2 million termination fee. Following the merger's termination, Lisata implemented a 72% reduction in its full-time employees, including key executive positions, to cut operating expenses and preserve cash. The Board is evaluating strategic alternatives, including potential M&A, asset sales, or liquidation, to enhance stockholder value. The company has not set a timetable for this strategic review.