Fractyl Health (Nasdaq:GUTS) wants to focus more on certain therapies, leading the company to cut nearly a fifth of its entire workforce.
Our sister site, Drug Delivery Business News, reports today that Fractyl plans to pause investment in its Revita programs for type 2 diabetes to extend its cash runway through 2026. Revita, a diabetes reversal procedure, uses hydrothermal ablation to target the duodenum in conjunction with empagliflozin.
To streamline resources, Fractyl is enacting a 17% workforce reduction. As of March 2024, the company had 102 full-time employees, per its annual report. The layoffs could affect around 17 employees. Read more about workforce reductions across medtech in this list compiled over the past two years.
This move comes a year after the company completed an IPO.
Get the full story at our sister site, Drug Delivery Business News.