Quanterix (QTRX) is shedding several executives at its newly acquired subsidiary, Akoya Biosciences, as part of a cost-saving initiative expected to generate $2.8 million in annualized cash savings.
Severance-related expenses will be $3.3 million, the company said Friday in a regulatory filing.
Quanterix shares rose 5.4% in after-hours trading.
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.