Brief: Aptinyx Board Approves To Reduce Its Workforce By About 60%

Aptinyx

01/03/2023 14:28

March 1 (Reuters) - Aptinyx Inc  APTX.O :
    * APTINYX INC - ON FEBRUARY 26, 2023, BOARD APPROVED A
RESTRUCTURING PLAN
    * APTINYX INC - UNDER PLAN, COMPANY IS REDUCING ITS
WORKFORCE BY
APPROXIMATELY 60%, TO BE SUBSTANTIALLY COMPLETED BY MARCH 3,
2023
    * APTINYX INC - EXPECTS TO INCUR ESTIMATED SEVERANCE AND
RELATED
COSTS OF ABOUT $1.4 MILLION, WHICH WILL BE RECORDED PRIMARILY IN
Q1 OF 2023
    * APTINYX INC - RESTRUCTURING PLAN TO REDUCE CO'S OPERATING
COSTS
AND BETTER ALIGN ITS WORKFORCE WITH NEEDS OF ITS BUSINESS

Further company coverage:  APTX.O 

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