Pieris Pharmaceuticals, Inc. announced the termination of its License and Collaboration Agreement and Non-Exclusive Anticalin Platform Technology License Agreement with AstraZeneca AB effective from October 15, 2023, due to non-clinical safety findings. The company further said they're seeking strategic alternatives and have decided to reduce workforce by 70%, incurring estimated severance costs of $3.4 million. As of June 30, 2023, the company's cash assets totalled $54.9 million.