Why DermTech Shares Are Rising Today
Portfolio Pulse from Adam Eckert
DermTech Inc (NASDAQ:DMTK) shares are trading higher after the company announced a restructuring plan. The plan includes a workforce reduction of 15%, which is expected to result in annualized savings of between $25 million and $30 million. The company believes it has sufficient cash to fund operations into the first quarter of 2025.
June 29, 2023 | 1:57 pm
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DermTech's restructuring plan, including a 15% workforce reduction, is expected to save the company between $25 million and $30 million annually. This has led to a rise in the company's share price.
The restructuring plan announced by DermTech, which includes a significant workforce reduction, is expected to result in substantial annual savings. This has been positively received by the market, leading to a rise in the company's share price.
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