Chiasma, Inc. (CHMA) Announces Additional 44% Workforce Reduction

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Go back to Chiasma, Inc. (CHMA) Announces Additional 44% Workforce Reduction

Chiasma Announces Workforce Reduction

August 16, 2016 9:02 AM EDT

WALTHAM, Mass., Aug. 16, 2016 (GLOBE NEWSWIRE) -- Chiasma, Inc. (NASDAQ: CHMA), a biopharmaceutical company focused on improving the lives of patients with rare and serious chronic diseases, today announced that it is further reducing its workforce by approximately 44%, primarily in the companys research and general and administrative functions, to lower its operating expenses and extend its cash runway.  This action follows Chiasmas announcement of a corporate restructuring plan in June 2016, which included an initial workforce reduction composed primarily of the companys commercial personnel.  Chiasma intends to focus its resources on the continued... More