Brief: Oncorus Announces Workforce Reduction Plan

Oncorus

01/06/2023 22:21

June 1 (Reuters) - Oncorus Inc  ONCR.O :
    * ONCORUS ANNOUNCES WORKFORCE REDUCTION PLAN
    * ONCORUS INC - BOARD OF DIRECTORS HAS APPROVED A WORKFORCE
REDUCTION OF APPROXIMATELY 55 EMPLOYEES
    * ONCORUS INC - BOARD HAS APPROVED A WORKFORCE REDUCTION OF
ABOUT
55 EMPLOYEES, REPRESENTING SUBSTANTIALLY ALL OF ONCORUS'
WORKFORCE
    * ONCORUS - ANTICIPATES ITS EXISTING CASH,PROJECTED CASH
FLOWS
WILL NOT BE SUFFICIENT TO MEET ITS WORKING CAPITAL, OPERATIONAL
NEEDS BEYOND Q3 OF 2023
    * ONCORUS INC - CONTINUES TO ASSESS ALL AVAILABLE STRATEGIC
OPTIONS TO MAXIMIZE VALUE FOR ALL OF ITS STAKEHOLDERS
    * ONCORUS INC - IF COMPANY IS UNABLE TO COMPLETE A
TRANSACTION, IT
WILL BE REQUIRED TO SEEK BANKRUPTCY PROTECTION OR OTHER
ALTERNATIVES

Source text for Eikon:  ID:nGNX85gD7b 
Further company coverage:  ONCR.O 

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