Leap Therapeutics Plunges 11.97% Amid Strategic Review

On June 24, 2025, Leap Therapeutics experienced a significant drop of 11.97% in pre-market trading, reflecting a challenging period for the biotechnology company.

Leap Therapeutics has initiated a strategic review process to explore various alternatives aimed at preserving and maximizing shareholder value. This includes leveraging its cash balance and considering potential sales or partnerships. The company has engaged Raymond James to assist in this process, indicating a proactive approach to navigating its current financial challenges.

In addition to exploring strategic options, Leap Therapeutics has announced significant workforce reductions, planning to cut its workforce by 75%. This move is part of a broader effort to streamline operations and focus on core activities that can drive long-term value for shareholders.

Despite these challenges, Leap Therapeutics remains committed to its mission of developing targeted and immuno-oncology therapeutics. The company's strategic review and workforce reductions are steps towards ensuring its long-term sustainability and success in the competitive biotechnology landscape.