Brief: Alligator Bioscience Announces Cost Reduction Program

Alligator Bioscience AB

08/02/2024 15:38

Feb 8 (Reuters) - Alligator Bioscience AB  ATORX.ST :
    * ALLIGATOR BIOSCIENCE ANNOUNCES COST REDUCTION PROGRAM TO
ALIGN
KEY PRIORITIES AND MAXIMIZE LONG-TERM VALUE CREATION
    * EXPECTED ANNUAL CASH SAVINGS OF SEK 20 MILLION
    * PLANNED RESTRUCTURING REMAINS SUBJECT TO NEGOTIATION WITH
RELEVANT TRADE UNIONS BUT WOULD RESULT IN A REDUCTION OF
APPROXIMATELY 20-25% OF CURRENT WORKFORCE
    * ONCE IMPLEMENTED, RESTRUCTURING IS EXPECTED TO REDUCE
OPERATIONAL CASH BURN WITH SEK 20 MILLION ANNUALLY
    * RESTRUCTURING FOLLOWS SUCCESSFUL CONCLUSION OF RESOURCE
INTENSIVE OPTIMIZE-1 PHASE 2 TRIAL

Source text for Eikon:  ID:nMFN4PjlyJ 
Further company coverage:  ATORX.ST 

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