Neon Therapeutics (NTGN) said on Wednesday it is exploring strategic options as it cuts its workforce by 24% to generate $35 million cost savings a year to focus only on its most advanced program, NEO-PTC-01, to target refractory solid tumors.

The biotechnology company said it will cease new spending on its cancer vaccine programs, NEO-PV-01 and NEO-SV-01, while continuing its NT-002 trial of NEO-PV-01 in first-line patients with metastatic non-small cell lung cancer, with clinical data expected in Q3 of 2020.

The company also said it plans to end future enrollment in its NT-003 trial in metastatic melanoma.