C4 Therapeutics sheds nearly 30% of workforce; shares up
09/01/2024 21:51
** Shares of C4 Therapeutics Inc CCCC.O rise ~1% to $7.35
after the bell
** Co says it will cut ~30% of its workforce in 2024 to
prioritize development of certain cancer treatments
** Company says it has about $330 million in cash, cash
equivalents and marketable securities as of Jan. 5
** Adds has cash runway into 2027
** Up to last close, stock lost ~6% in 2023
(Reporting by Mariam Sunny in Bengaluru)
((Mariam.ESunny@thomsonreuters.com;))