BUZZ-Molecular Templates rises on workforce reduction plan

Reuters

2024/10/05

** Shares of drug developer Molecular Templates rise ~3% to $1.5 in extended trading

** Company says it will reduce its workforce by ~60%, or 19 employees

** MTEM says it expects to complete layoffs in October 2024

** Says company continues to evaluate strategic alternatives

** Up to last close, stock down ~61% YTD

(Reporting by Mariam Sunny in Bengaluru)

((Mariam.ESunny@thomsonreuters.com;))

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