Talis Biomedical Announces Exploration of Strategic Alternatives and Cost Reduction Plan to Preserve Cash
While the Company has made progress developing the Talis One® system, it believes that this is a prudent path forward given current market conditions.
- While the Company has made progress developing the Talis One® system, it believes that this is a prudent path forward given current market conditions.
- The Company has engaged TD Cowen to act as a financial advisor in its review of strategic alternatives.
- In connection with the evaluation of strategic alternatives and to preserve cash, Talis Biomedical is reducing its workforce by approximately 90 percent and consolidating operations to a single site in Chicago.
- Due to its exploration of strategic alternatives, Talis Biomedical will not host a conference call to discuss third quarter results.