BRIEF-Catabasis Pharmaceuticals Says Board Approved Reduction In Company’S Workforce Of About 48%- SEC Filing

Reuters

2020-12-07

Dec 7 (Reuters) - Catabasis Pharmaceuticals Inc :

* CATABASIS PHARMACEUTICALS SAYS ON DECEMBER 4, BOARD APPROVED REDUCTION IN COMPANY’S WORKFORCE OF ABOUT 48%, TO A TOTAL OF 16 EMPLOYEES - SEC FILING

* CATABASIS PHARMACEUTICALS - EXPECTS RESTRUCTURING TO RESULT IN ABOUT $2.8 MILLION IN REDUCED ANNUALIZED WORKFORCE EXPENSES ONCE PLAN FULLY IMPLEMENTED

* CATABASIS PHARMACEUTICALS - CURRENTLY ESTIMATES TO INCUR CHARGES FOR ONE-TIME TERMINATION BENEFITS IN CONNECTION WITH RESTRUCTURING OF ABOUT $1 MILLION IN Q4

* CATABASIS PHARMACEUTICALS SAYS EXPECTS TO COMPLETE THE REDUCTION IN WORKFORCE BY THE END OF THE FOURTH QUARTER OF 2020

Source text for Eikon: [ Further company coverage:

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

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