DermTech shares are trading lower after the company filed for Chapter 11 protection and implemented a 20% workforce reduction to preserve cash.
Portfolio Pulse from Benzinga Newsdesk
DermTech shares are trading lower after the company filed for Chapter 11 protection and implemented a 20% workforce reduction to preserve cash.
June 18, 2024 | 1:58 pm
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DermTech shares are trading lower following the company's Chapter 11 bankruptcy filing and a 20% workforce reduction aimed at preserving cash.
The Chapter 11 filing indicates significant financial distress, which is likely to negatively impact investor sentiment and the stock price. The workforce reduction further underscores the company's efforts to manage its cash flow issues.
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