Brief: Aerovate Therapeutics On June 25, Determined To Implement A Reduction Of Company's Workforce

Jade Biosciences

28/06/2024 23:02

June 28 (Reuters) - Aerovate Therapeutics Inc  AVTE.O :
    * AEROVATE THERAPEUTICS INC:  ON JUNE 25, DETERMINED TO
IMPLEMENT
A REDUCTION OF COMPANY'S WORKFORCE
    * AEROVATE THERAPEUTICS INC: UNDER WORKFORCE REDUCTION PLAN,
COMPANY INTENDS THAT NEARLY ALL OF ITS WORKFORCE WILL BE
TERMINATED IN COMING MONTHS
    * AEROVATE THERAPEUTICS INC: INITIATED FIRST WAVE OF ITS
WORKFORCE
REDUCTION PLAN BY NOTIFYING 39 INDIVIDUALS, OR 78% OF COMPANY'S
WORKFORCE
    * AEROVATE THERAPEUTICS INC - INITIATED FIRST WAVE OF ITS
WORKFORCE REDUCTION PLAN BY NOTIFYING 39 INDIVIDUALS, OR 78% OF
COMPANY'S WORKFORCE
    * AEROVATE THERAPEUTICS INC - IN CONNECTION WITH WORKFORCE
REDUCTION PLAN, COMPANY ESTIMATES THAT IT WILL BE INCURRING
COSTS OF APPROXIMATELY $5.6 MILLION

Source text for Eikon:  ID:n0001798749-24-000036 
Further company coverage:  AVTE.O 

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