** Shares of drug developer Gritstone bio fall 16.3% to 5 cents premarket
** Late on Wednesday, co said it will reduce its workforce by 19% or 25 employees in connection with its Chapter 11 bankruptcy
** GRTS expects to record a one-time charge of about $300,000 related to the reduction in its workforce, which will be incurred in Q4
** Co filed for bankruptcy on Oct. 10
** "Trading of the company's common stock will be suspended at the opening of business on October 22" - GRTS
** Up to last close, stock down 97.1% YTD
(Reporting by Puyaan Singh)
((Puyaan.Singh@thomsonreuters.com;))
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