On January 19, 2016, the Board of Directors of TetraLogic Pharmaceuticals Corporation authorized the implementation of a 19 person reduction in staff. After the reduction, TetraLogic will have 10 remaining employees. TetraLogic anticipates that the actions associated with the reductions will be completed during February 2016.

In connection with the reduction of the company's workforce, on January 20, 2016, the company notified Dr. G. Glenn Begley, the company's Chief Scientific Officer, and Dr. Lesley Russell, the company's Chief Operating Officer, of the termination of their employment to be effective April 19, 2016, in accordance with the notice requirements of their respective employment agreements with the company.