Third Harmonic halting non-THB335 research, reducing workforce by 50%

In parallel with THB335 Phase 2 readiness activities, Third Harmonic Bio (THRD) is initiating a process to identify opportunities to maximize shareholder value through a strategic transaction and/or business combination. The Company has engaged TD Cowen to advise on this process. In conjunction with this announcement, the Company is halting all non-THB335 related research and discovery activities and undertaking a reduction in workforce of approximately 50%. As of December 31, 2024, the Company had approximately $285 million in cash and cash equivalents (unaudited). After accounting for expenses related to THB335 Phase 2 readiness activities, continuing operations, and restructuring costs, the Company estimates it will have cash and cash equivalents in a range of approximately $262 million to $267 million on June 30, 2025.