DermTech announced it has filed for voluntary chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. The chapter 11 filing is a continuation of the company’s strategic alternatives review process.

DermTech, which is a provider of noninvasive skin genomics technology, said it intends to continue its laboratory operations and processing orders for the DermTech Melanoma Test (DMT), while simultaneously conducting a process to sell substantially all of its assets. 

Alongside the chapter 11 filings, DermTech also implemented a reduction in force (RIF) to significantly reduce expenses associated with its current operations to preserve cash. This RIF resulted in an immediate workforce reduction of approximately 15 employees (approximately 20% of the company’s workforce), with potential additional reductions of DermTech’s workforce in the future.