Restructuring EffortsThe ongoing restructuring efforts de-prioritize focus on gene therapy and includes a reduction in headcount of ~20% to manage cash runway.
Stock ValuationThe stock is currently trading below its cash position, which is viewed as a fair discount consistent with other biotech companies with similar uncertainties.
Uncertainty In Target And IndicationMore details on the lead indication are needed to better assess the model, so the current recommendation is maintained as is for now.