BRIEF-Cara Therapeutics Says Board Approved A Streamlined Operating Plan Exploring Strategic Alternatives Focused On Maximizing Shareholder Value

Reuters06-19

June 18 (Reuters) - Cara Therapeutics Inc :

* CARA THERAPEUTICS - ON JUNE 14 BOARD APPROVED A STREAMLINED OPERATING PLAN EXPLORING STRATEGIC ALTERNATIVES FOCUSED ON MAXIMIZING SHAREHOLDER VALUE

* CARA THERAPEUTICS -IN CONNECTION WITH STREAMLINED OPERATING PLAN, BOARD OF DIRECTORS APPROVED REDUCTION IN CO’S WORKFORCE BY APPROXIMATELY 70%

* CARA THERAPEUTICS INC - ANTICIPATES RECOGNIZING ABOUT $2.6 MILLION IN TOTAL CHARGES IN CONNECTION WITH REDUCTION IN FORCE

* CARA THERAPEUTICS INC -COSTS ARE EXPECTED TO BE SUBSTANTIALLY RECOGNIZED IN THE SECOND AND THIRD QUARTER OF 2024

* CARA THERAPEUTICS - APPROVED REDUCTION IN COMPANY'S WORKFORCE BY APPROXIMATELY 70%, WHICH COMPANY EXPECTS TO SUBSTANTIALLY COMPLETE BY JUNE 30, 2024

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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