Better Therapeutics (Nasdaq:BTTX) shares ticked up on fourth-quarter results and projections for its flagship product in 2023.
The company’s quarterly results come on the heels of a 35% headcount reduction. Better Therapeutics said the headcount cut comes as part of a cost reduction initiative. It aims to improve its cash runway and “focus on the long-term success of the company.”
Better Therapeutics develops a range of digital therapeutics, including BT-001 for treating type 2 diabetes. The company submitted an FDA de novo request in September 2022 for the therapeutic.