TC Biopharm (Holdings) Plc. (TCBP), a clinical-stage biopharmaceutical company, Wednesday announced its plan to lay off workers by 50% to reduce costs and expand its cash runway.
The company also intends to utilize Research and Development only for the development of commercial applications and manufacturing.
The company said that these measures would help to complete the ACHIEVE trial in 2024.
In the pre-market activity, TC BioPharm's stock climbed by 2.19%, to $3.1984 on the Nasdaq.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.