May 8, 2018 / 9:08 PM / 17 days ago

BRIEF-Versartis Says Board Approved Plan Of Termination To Eliminate A Number Of Positions Effective Oct 20, 2017

May 8 (Reuters) - Versartis Inc:

* VERSARTIS SAYS IN OCTOBER 2017, BOARD APPROVED PLAN OF TERMINATION TO ELIMINATE A NUMBER OF POSITIONS EFFECTIVE OCT 20, 2017 - SEC FILING

* VERSARTIS SAYS WORKFORCE REDUCTION INCLUDED 13 EMPLOYEES, WHICH REPRESENTED ABOUT 48% OF ITS WORKFORCE AS OF MAY 3, 2018

* VERSARTIS INC - INCURRED A ONE-TIME SEVERANCE-RELATED CHARGE TOTALING ABOUT $3.0 MILLION WHICH WILL BE RECORDED IN Q2 OF 2018 Source text: (bit.ly/2wqKtTi) Further company coverage:

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