Sintx announces cost reductions, exploration of strategic partnerships

SINTX Technologies announced the completion of the first series of strategic initiatives aimed at strengthening the Company’s financial position and enhancing its long-term growth prospects. As part of this comprehensive effort to optimize the company’s financials, SINTX initiated strategic measures including: raised additional capital through the sale of common stock under the Company’s current At-The-Market offering. reduced expenses in an amount that we believe will result in an over 50% reduction in cash used in operating expenses and lowering expected future annual expenses by approximately $5.8 million. initiated discussions with its lessors, with the goal of reducing the Company’s lease obligations by the end of 2024. We believe these significant cost-saving measures will extend the Company’s cash runway well into 2025, providing increased financial flexibility to navigate the current market environment and pursue growth opportunities. “We are committed to building a more efficient and resilient company,” said Eric K. Olson, SINTX’s President and CEO. “The successful implementation of these cost-reduction initiatives underscores our commitment to financial discipline while continuing to deliver value to our customers, shareholders, and employees.” With a stronger financial foundation, we believe SINTX is better positioned than ever to explore strategic opportunities. The Company is actively seeking partnerships and collaborations that align with its long-term vision.