Brief: Idorsia To Eliminate About 270 Positions Globally

Idorsia

27/11/2024 06:18

Nov 27 (Reuters) - Idorsia Ltd  IDIA.S :
    * IDORSIA ENTERS INTO EXCLUSIVE NEGOTIATIONS FOR GLOBAL
RIGHTS TO
APROCITENTAN
    * IDORSIA LTD - COMPANY PLANS TO RESTRUCTURE ITS OUTSTANDING
DEBT
    * IDORSIA - COMPANY TO STREAMLINE BUSINESS, RESULTING IN
COST
CONTAINMENT - CONSEQUENTLY, APPROXIMATELY 270 POSITIONS GLOBALLY
COULD BECOME REDUNDANT
    * IDORSIA LTD - IDORSIA WILL RECEIVE AN EXCLUSIVITY FEE OF
USD 35
MILLION, WHICH EXTENDS IDORSIA'S CASH RUNWAY INTO 2025
    * IDORSIA LTD  - IDORSIA INTENDS TO CONCLUDE RESTRUCTURING
BY END
OF 2024, WITH COST REDUCTION BECOMING FULLY EFFECTIVE BY Q2
2025.

Source text:  ID:nGNE3tpRgK 
Further company coverage:  IDIA.S 

 ((Reuters.Briefs@thomsonreuters.com;))