Brief: Cara Therapeutics Says Board Approved A Streamlined Operating Plan Exploring Strategic Alternatives Focused On Maximizing Shareholder Value

Tvardi Therapeutics

18/06/2024 22:03

June 18 (Reuters) - Cara Therapeutics Inc  CARA.O :
    * CARA THERAPEUTICS - ON JUNE 14 BOARD APPROVED A
STREAMLINED
OPERATING PLAN EXPLORING STRATEGIC ALTERNATIVES FOCUSED ON
MAXIMIZING SHAREHOLDER VALUE
    * CARA THERAPEUTICS -IN CONNECTION WITH STREAMLINED
OPERATING
PLAN, BOARD OF DIRECTORS APPROVED REDUCTION IN  CO’S WORKFORCE
BY APPROXIMATELY 70%
    * CARA THERAPEUTICS INC - ANTICIPATES RECOGNIZING ABOUT $2.6
MILLION IN TOTAL CHARGES IN CONNECTION WITH REDUCTION IN FORCE
    * CARA THERAPEUTICS INC -COSTS ARE EXPECTED TO BE
SUBSTANTIALLY
RECOGNIZED IN THE SECOND AND THIRD QUARTER OF 2024
    * CARA THERAPEUTICS - APPROVED REDUCTION IN COMPANY'S
WORKFORCE BY
APPROXIMATELY 70%, WHICH COMPANY EXPECTS TO SUBSTANTIALLY
COMPLETE BY JUNE 30, 2024

Source text for Eikon:  ID:n0001104659-24-072821 
Further company coverage:  CARA.O 

 ((Reuters.Briefs@thomsonreuters.com;))