Elevation Oncology Inc
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Health Care : Biotechnology |
Company profile

Elevation Oncology, Inc. is an oncology company. The Company is focused on the discovery and development of selective cancer therapies to treat patients across a range of solid tumors with significant unmet medical needs. Its lead product candidate, EO-3021 (SYSA1801 or CPO102), is an antibody-drug conjugate (ADC) designed to target Claudin 18.2, a clinically validated molecular target, which can selectively deliver a cytotoxic payload directly to cancer cells expressing Claudin 18.2. Claudin 18.2 is expressed across several solid tumor types, including many gastrointestinal cancers such as gastric, gastroesophageal junction and pancreatic cancer. Claudin 18.2 is also expressed in ovarian cancer, non-small cell lung cancer (NSCLC) and other solid tumors. The Company is exploring opportunities through new or existing partnerships and business development opportunities to expand its novel oncology pipeline.

Day's Change
-1.09 (-38.65%)
B/A Size
Day's High
Day's Low
(Heavy Day)

Today's volume of 5,832,327 shares is on pace to be much greater than ELEV's 10-day average volume of 8,118,558 shares.


Job cuts at Salesforce in 2023 would be first yearly workforce reduction in its 19-year history as a public company

8:04 am ET March 10, 2023 (MarketWatch)

By Tomi Kilgore

Planned layoffs of 10% of Salesforce's employees follow a 62% jump in its workforce in 3 years

Salesforce Inc.'s plan to cut jobs this year would mark the first yearly workforce reduction since the customer-relationship-management software company went public in 2004.

The company (CRM) disclosed in its annual 10-K report for fiscal 2023 ending Jan. 31, 2023, which it filed with the Securities and Exchange Commission late Wednesday, that it had 79,390 employees as of Jan. 31.

That's up 8% from 73,541 employees at the end of fiscal 2022.

And since fiscal 2020, which ended just before the start of the COVID-19 pandemic, Salesforce's workforce had soared 62%.

On Jan. 4, 2023, when the company said it would lay off 10% of its staff, Chief Executive Marc Benioff said the company "hired too many people" heading into the current economic slowdown, as revenue accelerated through the pandemic.

Don't miss: Marc Benioff reminds Wall Street that 'this isn't my first recession,' saying Salesforce's activists 'made a lot of money today.'

Also read: More than 127,000 tech-sector employees have lost their jobs since the start of 2023.

Cutting 10% of Salesforce's staff would still leave its workforce at roughly 71,451, or well above its employee total for fiscal 2021 of 56,606. The company had 49,000 employees as of Jan. 31, 2020.

The company, which went public in June 2004, had 767 employees as of Jan. 31, 2005, according to its first 10-K filing. The workforce has increased every year since then by an average of about 30% (the median increase has been 28%). The biggest yearly percentage increase was 70%, in fiscal 2006, while the smallest increase was in fiscal 2023, at 8%.

Salesforce's stock, which fell 2.3% to close at $178.72 on Thursday, has soared 36.3% over the past three months, while the SPDR S&P Software & Services exchange-traded fund (XSW) has gained 7.1% and the Dow Jones Industrial Average has slipped 3.7%.

-Tomi Kilgore


This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.


(END) Dow Jones Newswires

March 10, 2023 08:04 ET (13:04 GMT)

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