05:44 PM EDT, 04/18/2024 (MT Newswires) -- DermTech ( DMTK ) said Thursday that a special committee of its board is working with TD Cowen to explore strategic alternatives for the company to maximize shareholder value.

According to the company, potential alternatives include acquisition, merger, reverse merger, business combination, sale of assets, licensing, or other transactions.

DermTech ( DMTK ) said it is implementing a restructuring plan to reduce operational expenses and preserve cash.

The restructuring includes laying off about 100 employees with a one-time charge of about $1.6 million in Q2, the company added.