June 8, 2020 / 8:13 PM / a month ago

BRIEF-Kindred Biosciences To Reduce Operating Expenditures To About $10 Mln By Q4 2020

June 8 (Reuters) - Kindred Biosciences Inc:

* KINDRED BIOSCIENCES ANNOUNCES PLAN TO STRENGTHEN ITS STRATEGIC POSITION

* KINDRED BIOSCIENCES INC - WILL PRIORITIZE ITS “MOST ATTRACTIVE” LATE STAGE PROGRAMS AND SUBSTANTIALLY REDUCE EXPENSES

* KINDRED BIOSCIENCES INC - RESTRUCTURING WILL REDUCE WORKFORCE BY ABOUT 25 EMPLOYEES, INCLUDING DEPARTURE OF CO’S PRESIDENT & COO

* KINDRED BIOSCIENCES - OPERATING EXPENSES FOR 2020 ARE PROJECTED TO RANGE BETWEEN $53 AND $55 MILLION

* KINDRED BIOSCIENCES INC - TO REDUCE OPERATING EXPENDITURES TO ABOUT $10 MILLION BY Q4 2020

* KINDRED BIOSCIENCES INC - TO MAINTAIN EXPENDITURES AT A SIMILAR LEVEL THROUGH 2021

* KINDRED BIOSCIENCES-SEES EXISTING CASH, CASH EQUIVALENTS & INVESTMENTS, AMONG OTHER ACTIONS SUFFICIENT TO FUND CURRENT OPERATING PLAN THROUGH MID-2022 Source text for Eikon: Further company coverage:

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