Headline : Prescription digital therapeutics company Better Therapeutics announces layoffs

Read more from the original article on here at www.mobihealthnews.com.

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Better Therapeutics, a prescription digital therapeutics platform, has laid off approximately 35% of its workforce due to a cost reduction initiative, according to a U.S. Securities and Exchange Commission filing on Friday. 

The company provides cognitive behavioral therapy to address diabetes, hypertension and other cardiometabolic diseases.

Per the SEC filing, the company expects to incur approximately $400,000 in cash-related expenses due to severance and benefits in Q2 2023. CEO Frank Karbe emailed employees on Thursday, notifying them of the workforce reduction.

"We are also implementing other cost savings measures to further extend our financial runway so we can reach critical milestones over the next few months, including potential FDA marketing authorization and subsequent commercial launch of BT-001 in Type 2 diabetes," Karbe said in the email. 

Read more from the original article on here at www.mobihealthnews.com.

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