Theseus Pharma up after plans to explore strategic alternatives, job cuts

Theseus Pharmaceuticals

14/11/2023 09:43

** Drug developer Theseus Pharmaceuticals'  THRX.O  shares
up 25.2% at $2.68 before the bell
    ** Late Monday, co reported it is exploring strategic
alternatives, including potential sale of the company or its
assets, or a merger, among others
    ** Also implements workforce reduction of about 72% as part
of the strategic process
    ** Company had 38 full-time and part-time employees as of
Feb. 28, 2023, according to a regulatory filing
    ** Earlier this year, co terminated development of its
experimental drug to treat stomach cancer after two drug-related
toxicities were identified in a study
    ** Up to Monday's close, stock down ~57% YTD

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