Generation Bio jumps on strategic review, deep job cuts

** Shares of drug developer Generation Bio GBIO.O rise 30% to $5.28 premarket

** Late on Tuesday co said it is exploring strategic alternatives, including a sale, merger, or asset deal, with TD Cowen advising

** Co also restructuring with about a 90% workforce reduction by end of October

** Co posted Q2 sales of $765,000, well below analysts' est of $3.1 mln - LSEG

** Co reported Q2 loss per share of $3.12, compared to estimate loss of 2.85/share - LSEG

** Co also said its experimental drug delivery system successfully targeted immune cells in monkey studies for the first time and showed promise for treating autoimmune diseases by blocking key immune cell proteins

** As of last close, stock down 61% YTD