Brief: Dermtech Announces Restructuring To Prioritize Growth Opportunities And Streamline Operations

DermTech

28/06/2023 22:20

June 28 (Reuters) - DermTech Inc  DMTKW.PK :
    * DERMTECH ANNOUNCES RESTRUCTURING TO PRIORITIZE GROWTH
OPPORTUNITIES AND STREAMLINE OPERATIONS
    * DERMTECH INC - ANNUALIZED COST REDUCTION OF BETWEEN $25
MILLION
AND $30 MILLION
    * DERMTECH INC - STRATEGIC FOCUS ON GROWING REVENUE FOR
DERMTECH
MELANOMA TEST (DMT)
    * DERMTECH INC - CASH RUNWAY EXTENDED INTO Q1 OF 2025
    * DERMTECH INC - WORKFORCE REDUCTION OF APPROXIMATELY 40
EMPLOYEES
    * DERMTECH INC - ANTICIPATES A ONE-TIME RESTRUCTURING CHARGE
OF
APPROXIMATELY $2 MILLION IN Q2 OF 2023
    * DERMTECH INC - HAD CASH, CASH EQUIVALENTS, RESTRICTED CASH
AND
SHORT-TERM MARKETABLE SECURITIES OF $108.4 MILLION AS OF MARCH
31, 2023

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