DermTech shares sink after filing for bankruptcy

DermTech

18/06/2024 14:09

** Shares of diagnostic company DermTech  DMTK.O  sink more
than 57% to 14 cents premarket
    ** Co filed for Chapter 11 bankruptcy protection and plans
to sell substantially all of its assets
    ** Court filing shows DMTK has listed estimated assets and
liabilities in range of $50 mln-$100 mln
    ** DMTK also cut 15 jobs, could reduce more in the future
    ** Co intends to continue its laboratory operations and
processing orders for its cancer diagnostic tests during
bankruptcy proceedings
    ** As of last close, stock has already tumbled 81% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com))