Barinthus cuts 25% of staff, halts prostate cancer program for cash conservation

Barinthus Biotherapeutics has announced a strategic restructuring aimed at extending its financial resources into 2026. The company, previously known as Vaccitech and based in the U.K., has leveraged positive interim results from two phase 2 trials of its hepatitis B therapy, VTP-300, to justify refocusing its efforts. As part of this process, Barinthus will deprioritize its prostate cancer candidate and reduce its workforce by approximately 25%.

The interim results for VTP-300 were presented at the European Association for the Study of the Liver (EASL) Congress. These results indicated VTP-300’s potential to significantly lower and maintain low levels of hepatitis B surface antigen (HBsAg) in patients with chronic hepatitis B (CHB), with some patients even achieving undetectable HBsAg levels. Analysts at William Blair supported these findings, suggesting that VTP-300 could potentially lead to a functional cure for CHB, pending further development.

Additionally, Barinthus highlighted promising preclinical data for its lead candidate for celiac disease, VTP-1000. This drug is designed to balance the immune response by inducing gluten-specific T regulatory cells and reducing gluten-specific T effector cell responses. Encouraged by the preclinical results, Barinthus plans to advance VTP-1000 into clinical trials in the third quarter.

To align resources with this streamlined focus, the company will undergo a restructuring, which includes the workforce reduction and an estimated extension of its cash runway into the second quarter of 2026. Initially, Barinthus had projected that its $130 million in cash and equivalents, as of March’s end, would last until late 2025.

The ongoing phase 1 trial of VTP-850 for prostate cancer will be completed, but the future of this immunotherapeutic appears uncertain based on the latest announcements. Similarly, there was no update on VTP-200, an immunotherapeutic regimen for high-risk human papillomavirus (hrHPV) that recently completed a phase 1b/2 trial without demonstrating significant improvements in hrHPV or cervical lesion clearance.

CEO Bill Enright stated that this pipeline prioritization places the company in a strong position to maximize its chances of success, particularly in light of the encouraging VTP-300 interim data and the novel SNAP-TI platform for treating autoimmune diseases. Enright also acknowledged the difficult decision to reduce the workforce, expressing gratitude for the contributions of the company's employees.

Analysts at William Blair have endorsed Barinthus’ decision to streamline its research and development pipeline. They consider the move to be evidence-based, driven by evolving data, and believe that new data from the VTP-300 program could demonstrate the regimen’s potential in achieving functional cures for patients with CHB.