Atreca to Cut About 40% of Workforce

marketwatch

2023-11-15

By Josh Beckerman

Biotechnology company Atreca said it is implementing a further reduction in its workforce of about 40% while maintaining the necessary support to continue exploring potential strategic transactions and business alternatives.

The company cited financial market conditions and the funding needs required to advance antibody-drug conjugate programs into clinical development.

Atreca also reported a third-quarter loss of 92 cents a share, compared with a loss of 60 cents a share a year earlier.

Write to Josh Beckerman at josh.beckerman@wsj.com

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