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Theseus Pharmaceuticals, Inc. (NASDAQ:THRX) (Theseus or the Company), a clinical-stage biopharmaceutical company focused on improving the lives of cancer patients through the discovery, development, and commercialization of transformative targeted therapies, today announced that it is conducting a process exploring strategic alternatives to maximize shareholder value.
In conjunction with the strategic process, Theseus implemented a workforce reduction of approximately 72%. This includes Theseus' President of Research and Development, William C. Shakespeare, Ph.D., who will continue to support the Company in a consulting capacity until June 30, 2024.
As part of this process, the Company plans to consider a wide range of options with a focus on maximizing shareholder value, including potential sale of assets of the Company, a sale of the Company, a merger or other strategic action.
As of September 30, 2023, Theseus had cash, cash equivalents, and marketable securities of $225.4 million.
Posted In: THRX
