DermTech files for chapter 11 protection

Key takeaways:

• DermTech has filed for bankruptcy protection.
• The company has also undergone a reduction in force of 15 employees.

DermTech has filed for voluntary chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware, the company announced in a press release.

The genomics company makes and markets products using its trademarked Smart Stickers, which analyze skin samples for melanoma and other skin diseases.

In addition to filing for chapter 11 protection, a reduction in force of 15 employees, approximately 20% of employees, was implemented, with future reductions possible.

Laboratory operations and processing orders for the DermTech Melanoma Test (DMT) will continue; however, the company will be selling substantially all of its assets, according to the release.