Brief: Catabasis Pharmaceuticals Says Board Approved Reduction In Company’S Workforce Of About 48%- SEC Filing

Astria Therapeutics

07/12/2020 13:49

Dec 7 (Reuters) - Catabasis Pharmaceuticals Inc  CATB.O :
    * CATABASIS PHARMACEUTICALS SAYS ON DECEMBER 4, BOARD
APPROVED
REDUCTION IN COMPANY’S WORKFORCE OF ABOUT 48%, TO A TOTAL OF 16
EMPLOYEES - SEC FILING
    * CATABASIS PHARMACEUTICALS - EXPECTS RESTRUCTURING TO
RESULT IN
ABOUT $2.8 MILLION IN REDUCED ANNUALIZED WORKFORCE EXPENSES ONCE
PLAN FULLY IMPLEMENTED
    * CATABASIS PHARMACEUTICALS - CURRENTLY ESTIMATES TO INCUR
CHARGES
FOR ONE-TIME TERMINATION BENEFITS IN CONNECTION WITH
RESTRUCTURING OF ABOUT $1 MILLION IN Q4
    * CATABASIS PHARMACEUTICALS SAYS EXPECTS TO COMPLETE THE
REDUCTION
IN WORKFORCE BY THE END OF THE FOURTH QUARTER OF 2020

Source text for Eikon: [https://bit.ly/3onXHGG]
Further company coverage:  CATB.O 

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