RestructuringAug 4, 2026, 06:08 AM
Lisata Therapeutics Cuts 72% Workforce; Sues Kuva Labs
AI Summary
Lisata Therapeutics' Board approved a 72% workforce reduction on August 3, 2026, to cut costs and pursue strategic options, expecting $1.2 million in related costs. Concurrently, Dr. Kristen K. Buck, EVP R&D and CMO, was terminated, while James Nisco, SVP Finance & CAO, received a $200,000 retention bonus. The company also initiated a lawsuit against Kuva Labs Inc. on July 31, 2026, for breaching their merger agreement, seeking damages for expected shareholder benefits.
Key Highlights
- Lisata Therapeutics approved a 72% workforce reduction on August 3, 2026.
- Company expects $1.2 million in costs for severance by Q3 2026.
- Dr. Kristen K. Buck, EVP R&D and CMO, was terminated effective August 3, 2026.
- Dr. Buck is entitled to 12 months salary, bonus, and COBRA premiums.
- James Nisco, SVP Finance & CAO, received a $200,000 cash retention bonus.
- Lisata sued Kuva Labs Inc. on July 31, 2026, for breach of merger agreement.
- Company seeks damages for expected shareholder benefits from the failed merger.
Price Impact
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