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
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.