Molecular Templates rises on workforce reduction plan

Molecular Templates

04/10/2024 21:54

** Shares of drug developer Molecular Templates  MTEM.O 
rise ~3% to $1.5 in extended trading 
    ** Company says it will reduce its workforce by ~60%, or 19
employees 
    ** MTEM says it expects to complete layoffs in October 2024
    ** Says company continues to evaluate strategic alternatives
    ** Up to last close, stock down ~61% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))