Brief: Oncosec Medical Says Will Reduce Current Workforce By Approximately 18 Employees

OncoSec Medical Incorporated

04/10/2022 22:48

Oct 4 (Reuters) - OncoSec Medical Inc  ONCS.O :
    * ONCOSEC MEDICAL INC - WILL RESTRUCTURE AND REDUCE CURRENT
WORKFORCE BY APPROXIMATELY 45%, OR APPROXIMATELY 18 EMPLOYEES
    * ONCOSEC MEDICAL INC - ESTIMATES THAT IT WILL INCUR CHARGES
OF
APPROXIMATELY $650,000 TO $700,000 IN CONNECTION WITH
RESTRUCTURING PLAN
    * ONCOSEC MEDICAL INC - EXPECTS MAJORITY OF RESTRUCTURING
CHARGES
WILL BE INCURRED IN FOURTH CALENDAR QUARTER OF 2022 AND FIRST
CALENDAR QUARTER OF 2023
    * ONCOSEC MEDICAL INC - EXPECTS EXECUTION OF RESTRUCTURING
PLAN
WILL BE SUBSTANTIALLY COMPLETE BY SECOND CALENDAR QUARTER OF
2023.

Further company coverage:  ONCS.O 
 ((Reuters.Briefs@thomsonreuters.com;))