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San Diego biotech making melanoma skin patch files for Chapter 11 bankruptcy

Posted on AllSides June 18th, 2024
From The Left

San Diego-based DermTech, a company that developed a noninvasive sticker to detect skin cancer, filed for bankruptcy protection Tuesday to restructure its debt and sell its assets. The company has made multiple attempts to straighten out its finances in the past year amid a tough financing environment for venture capital and public markets. Last summer, DermTech shook up its leadership structure and conducted multiple layoffs — the most recent round in April cut the workforce in half — trimming its headcount to roughly 75 employees. On Tuesday, DermTech said in...

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