Better Therapeutics, a digital therapeutics company, laid off 35 percent of its workforce, according to a March 23 filing with the U.S. Securities and Exchange Commission.
According to an end-of-2021 SEC filing, the company had 44 employees. The company is working to implement other cost-cutting measures as it ramps up for FDA authorization of its flagship diabetes product.
"My long-term outlook for the potential of our digital therapeutics platform, not just in Type 2 diabetes but potentially many other cardiometabolic diseases, remains unchanged, and I continue to believe that we will demonstrate the significant medical and commercial potential of our therapeutic approach, including the potential to significantly reduce the cost of care associated with chronic metabolic conditions," CEO Frank Karbe said in an email to employees that was included with the SEC statement.