Mergers & Acquisitions ·
Lisata Therapeutics cuts workforce by 72%, files suit against Kuva Labs for breach of merger agreement
LSTALisata Therapeutics, Inc.
Lisata Therapeutics announced a reduction in workforce by approximately 72%, effective immediately, to cut operating expenses while pursuing strategic options. The company estimates $1.2 million in severance and termination costs through the quarter ending September 30, 2026. Concurrently, Executive Vice President of R&D and Chief Medical Officer Dr. Kristen K. Buck was terminated without cause, entitling her to 12 months of base salary and target bonus plus COBRA premiums. Senior Vice President James Nisco received a $200,000 cash retention bonus payable if he remains employed through December 31, 2026. Additionally, the company filed a lawsuit in Delaware Court of Chancery against Kuva Labs Inc. for breach of merger agreement, seeking damages for expected stockholder benefits. Lisata Therapeutics operates in the biotechnology industry, focusing on drug discovery and development.