** 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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