Brief: Cibus Reduces Workforce To About 185 From 242 Full-Time Employees

Cibus

18/10/2023 22:58

Oct 18 (Reuters) - Cibus Inc  CBUS.O :
    * CIBUS INC - STRATEGIC REALIGNMENT WILL RESULT IN A
REDUCTION IN
WORKFORCE IN FULL TIME EMPLOYEES FROM 242 FULL-TIME EMPLOYEES TO
ABOUT 185 FULL-TIME EMPLOYEES
    * CIBUS INC- STRATEGIC REALIGNMENT WILL RESULT IN A
REDUCTION IN
WORKFORCE IN FULL TIME EMPLOYEES FROM 242 FULL-TIME EMPLOYEES AS
OF OCTOBER 17
    * CIBUS INC - EXPECTS MAJORITY OF ASSOCIATED COSTS TO BE
INCURRED
DURING QUARTER ENDING DECEMBER 31, 2023
    * CIBUS INC - IMPLEMENTED STRATEGIC REALIGNMENT TO ALIGN
WITH ITS
PRIMARY COMMERCIAL OBJECTIVE OF ADVANCING ITS LATE-STAGE
ACTIVITIES
    * CIBUS INC - EXPECTS THAT EXISTING CASH AND CASH
EQUIVALENTS WILL
FUND PLANNED OPERATING EXPENSES & CAPEX REQUIREMENTS INTO EARLY
IN Q1 OF 2024
    * CIBUS INC - INITIATED COST REDUCTION INITIATIVES DESIGNED
TO
PRESERVE CAPITAL RESOURCES FOR THE ADVANCEMENT OF CIBUS’
PRIORITY OBJECTIVES
    * CIBUS INC - FOCUSING ITS OPERATIONS ON COMPLETING LAUNCH
OF ITS
FIRST THREE TRAITS POD SHATTER REDUCTION, HT1 AND HT3
    * CIBUS INC - IMPLEMENTED A STRATEGIC REALIGNMENT TO ALIGN
WITH
ITS PRIMARY COMMERCIAL OBJECTIVE OF ADVANCING ITS LATE-STAGE
ACTIVITIES
    * CIBUS INC - COST REDUCTION INITIATIVES INCLUDE REDUCTIONS
IN
CAPITAL EXPENDITURES,STREAMLINING OF INDEPENDENT CONTRACTOR
UTILIZATION
    * CIBUS INC - NO CERTAINTY THAT CIBUS WILL BE ABLE TO
EXECUTE A
FINANCING TRANSACTION IN NEAR TERM OR AT ALL

Source text for Eikon:  ID: 
Further company coverage:  CBUS.O 

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