Prescription digital therapeutics company Better Therapeutics announces layoffs

The company has let go of approximately 35% of its workforce. In an effort to save costs, Better Therapeutics, a platform for prescription digital pharmaceuticals, has laid off about 35% of its staff, according to a filing with the U.S. Securities and Exchange Commission on Friday. For the treatment of diabetes, hypertension, and other cardiometabolic disorders, the company offers cognitive behavioural therapy. According to the SEC filing, the business anticipates spending around $400,000 in Q2 2023 on cash-related expenses linked to severance and benefits. Employees received a letter from CEO Frank Karbe on Thursday informing them of the layoffs. The FDA marketing authorization and subsequent commercial launch of BT-001 in Type 2 diabetes are two crucial milestones that Karbe said in the statement: "We are also implementing other cost-saving measures to further extend our financial runway so we can reach those milestones over the next few months."