Brief: Applied Molecular Transport Announces Corporate Leadership Change

Applied Molecular Transport.

27/03/2023 21:05

March 27 (Reuters) - Applied Molecular Transport Inc.
 AMTI.O :
    * APPLIED MOLECULAR TRANSPORT ANNOUNCES CORPORATE LEADERSHIP
CHANGE AND PROCESS TO EXPLORE STRATEGIC ALTERNATIVES
    * APPLIED MOLECULAR TRANSPORT INC.- APPROVED A WORKFORCE
REDUCTION
OF APPROXIMATELY 57% OF ITS EMPLOYEE BASE
    * APPLIED MOLECULAR TRANSPORT INC. - DIRECTORS APPROVED A
WORKFORCE REDUCTION OF APPROXIMATELY 57% OF ITS EMPLOYEE BASE
    * APPLIED MOLECULAR TRANSPORT INC. - TAHIR MAHMOOD, PH.D.,
WILL
LEAVE HIS POST AS CHIEF EXECUTIVE OFFICER
    * APPLIED MOLECULAR TRANSPORT INC. - SHAWN CROSS, PRESIDENT
AND
CHIEF OPERATING OFFICER, WILL NOW SERVE AS CHIEF EXECUTIVE
OFFICER
    * APPLIED MOLECULAR TRANSPORT INC. - AS OF FEBRUARY 28,
2023,
COMPANY HAD CASH AND CASH EQUIVALENTS OF APPROXIMATELY $47.4
MILLION
    * APPLIED MOLECULAR TRANSPORT- ESTIMATES CUMULATIVE
SEVERANCE
COSTS ASSOCIATED WITH WORKFORCE REDUCTIONS IMPLEMENTED IN MARCH
2023 OF ABOUT $4.8 MILLION
    * APPLIED MOLECULAR TRANSPORT INC. - SHAWN CROSS HAS BEEN
APPOINTED TO BOARD WHERE HE WILL SERVE AS CHAIR

Source text for Eikon:  ID:nGNX5zVrs1 
Further company coverage:  AMTI.O 

 ((Reuters.Briefs@thomsonreuters.com;))