Neon Therapeutics, Inc. (NasdaqGS:NTGN) announced its new strategic focus on the development of its novel neoantigen-based T cell programs, in conjunction with a corporate restructuring. As part of this new strategic focus, Neon is reducing its workforce by approximately 24% of its current headcount. As part of these cost reduction efforts, Neon intends to explore strategic options. There can be no assurance that Neon’s restructuring and other cost-saving efforts will be sufficient to continue the development of NEO-PTC-01 or its other programs through completion of the planned or ongoing clinical trials, nor that Neon’s exploration of strategic alternatives will result in any transaction being entered into or consummated. Neon has not set a timetable for completion of this strategic review process and Neon does not intend to comment further unless or until its board of directors has approved a definitive course of action, the review process is concluded, or it determines that disclosure is required or appropriate.