BRIEF-Telesta Therapeutics provides strategic update

Tue Aug 2, 2016 7:19am EDT
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Aug 2 (Reuters) - Telesta Therapeutics Inc :

* Telesta Therapeutics provides strategic update

* Termination of future expenditures on mcna

* Will close manufacturing unit in montreal,seeking buyer for this facility,reducing current intellectual property expenditures to minimum

* Implemented workforce reduction that will decrease its operational workforce, to 15 full time employees from 50 people at march 31, 2016

* Seeking to monetize two former manufacturing assets

* Will cease to expend any significant effort or funds to find a partner Source text for Eikon: Further company coverage: