Brief: Amniotics Changes Its Strategic Direction, Implements Cost-Saving Measures

Amniotics AB (publ)

21/12/2022 07:33

Dec 21 (Reuters) - Amniotics AB (publ)  AMNI.ST :
    * SAID ON TUESDAY WOULD CHANGE THE STRATEGIC DIRECTION AND
SCOPE
OF THE BUSINESS, WHICH WILL LEAD TO COST SAVINGS IN SHORT AND
LONG TERM
    * THE SAVINGS ARE EXPECTED TO REDUCE THE COMPANY'S COSTS BY
THREE
QUARTERS IN THE LONG TERM
    * THE AVAILABILITY OF CAPITAL HAS DETERIORATED SIGNIFICANTLY
OVER
THE PAST YEAR AND DUE TO THE CURRENT MARKET CONDITIONS
    * IS MAKING EXTENSIVE COST SAVINGS, INCLUDING REDUCTIONS IN
STAFF
AND REVIEWING COSTS OF THE ONGOING CLINICAL TRIAL
    * INTENDS TO REDUCE COSTS BY FOCUSING ON ITS CORE AREAS,
WITH A
FOCUS ON RESEARCH AND DEVELOPMENT, OUT-LICENSING AND
PARTNERSHIPS REGARDING CURRENT AND FUTURE STEM CELL PROJECTS

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nMFN1njjH1
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