DBVT - DBV Technologies reports change in U.S. reporting status cuts headcount

DBV Technologies (DBVT) has determined that it now qualifies as a U.S. domestic issuer rather than a foreign private issuer in the U.S. As of January 1, the company is subject to SEC and other rules and regulations applicable to U.S. domestic issuers, in addition to French and EU regulations.DBV will be required to file with the SEC periodic reports and registration statements, and consolidated financial information will be reported in U.S. dollars. The Company also announced that the process implementing the Employment Safeguard Plan in France has been approved. DBV initiated this global restructuring plan in June 2020 to provide operational latitude for development of Viaskin Peanut in U.S. and European Union.The re-organization will result in a reduction of more than 200 jobs, expected to be completed by end of Q1 2021. The company anticipates to have its monthly cash burn reduced by 40-50% compared prior year by H2 2021.DBV expects these cost-reduction

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DBV Technologies reports change in U.S. reporting status, cuts headcount