Better Therapeutics shares fall; company announces job cuts

Better Therapeutics

24/03/2023 15:37

** Shares of Better Therapeutics Inc  BTTX.O  fall 3.19% to
$0.91
    ** The digital therapeutics company to reduce about 35% of
its workforce as part of a cost-reduction initiative to improve
cash runway and focus on long-term success
    ** BTTX will implement other cost savings measures over the
next few months, including potential FDA marketing authorization
and commercial launch of BT-001 in Type 2 diabetes
    ** Company estimates to incur ~$400,000 in cash-based
expenses related to severance and benefits in Q2 2023
    ** Stock lost ~76% in 2022

 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com;))