Catabasis to cut workforce 42% in restructuring move; shares down 6% after hours [Seeking Alpha]
Catabasis Pharmaceuticals, Inc. (CATB)
Last catabasis pharmaceuticals, inc. earnings: 3/10 08:05 am
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Source: Seeking Alpha
Catabasis to cut workforce 42% in restructuring move; shares down 6% after hoursAimed at extending its cash runway as it focuses its resources on Duchenne muscular dystrophy (DMD) candidate edasalonexent, Catabasis Pharmaceuticals (NASDAQ:CATB) willrestructure its operations, cutting its workforce by 42% and saving ~$3.3M in annualized personnel costs. It will record ~$1M charge this quarter related to the costs of the initiative.Shares are down6% after hours.See all stocks on the move »Now read:BioSci Rounds Report: Intercept Making A Comeback, Improving FDA Policy Can Help Geron »
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