Fresh Tracks Therapeutics Approves Plan Of Liquidation
Nasdaq 2023-09-19 20:53:48 • 1 min
(RTTNews) - Fresh Tracks Therapeutics, Inc. (FRTX) Tuesday announced that its Board of Directors has approved a plan of liquidation and dissolution of the company.
The company said it made the decision after conducting an extensive potential strategic alternatives process and careful consideration of the outcomes.
The company intends to distribute all remaining cash to shareholders. Additionally, in order to reduce costs, Fresh Tracks is discontinuing all clinical and preclinical development programs, and reducing its workforce, which includes the termination of most employees, by early October 2023, except for certain employees, consultants, and advisors who will supervise or facilitate the dissolution and wind down of the company.
