Brief: Applied Molecular Transport Inc. - Implements Cost Reductions To Support Strategic Prioritization And Extend Estimated Cash Runway Into 2024

Applied Molecular Transport.

18/05/2022 13:43

Applied Molecular Transport Inc.  AMTI.O :
    * APPLIED MOLECULAR TRANSPORT INC. -  IMPLEMENTS COST
REDUCTIONS
TO SUPPORT STRATEGIC PRIORITIZATION AND EXTEND ESTIMATED CASH
RUNWAY INTO 2024
    * APPLIED MOLECULAR - STREAMLINES TO PRIORITIZE RESOURCES ON
KEY
PROPRIETARY CLINICAL PROGRAMS, INCLUDING PLANS TO ADVANCE
AMT-101 INTO PHASE 3 FOR CHRONIC POUCHITIS
    * APPLIED MOLECULAR TRANSPORT INC. - SHAWN CROSS NAMED
PRESIDENT
AND CHIEF OPERATING OFFICER
    * APPLIED MOLECULAR TRANSPORT INC. - BRANDON HANTS ASSUMES
ROLE OF
CHIEF FINANCIAL OFFICER
    * APPLIED MOLECULAR TRANSPORT INC. - REDUCING WORKFORCE BY
APPROXIMATELY 40%, TO 81 FULL-TIME EMPLOYEES
    * APPLIED MOLECULAR TRANSPORT INC. - XPECTS TO RECORD A
ONE-TIME
CHARGE, PRIMARILY RELATED TO SEVERANCE, IN THE SECOND QUARTER OF
2022
    * APPLIED MOLECULAR TRANSPORT INC. - PAUSING EARLIER-STAGE
RESEARCH PROGRAMS AND ACTIVITIES

Source text for Eikon:  ID:nGNX91dRwt 
Further company coverage:  AMTI.O