Talis Biomedical up on plans to explore strategic options, job cuts

Talis Biomedical

14/11/2023 17:19

** Shares of Talis Biomedical Corp  TLIS.O  jump 32.2% to
$7.14 
    ** Co says it is exploring strategic alternatives, 
including potential sale of the company, divestiture of assets,
equity or debt financing alternatives, or a merger, among others
    ** TLIS to cut its workforce by about 90% and consolidate
operations to a single site in Chicago to preserve cash 
    ** Cash and cash equivalents stood at $88 mln as of Q3 ended
Sept. 30
    ** Talis had a total of 102 full-time employees as of Dec.
31, 2022, according to a regulatory filing
    ** Q3 net loss narrowed to $15.7 mln from $26 mln in the
year-ago period
    ** Including sessions gain, stock up 6.8% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))