RAPT Therapeutics, Inc.: restructuring charge — RAPT Therapeutics cuts 40% of workforce (47 employees) to conserve cash, expects $0.9M charge

RAPT Therapeutics, Inc.

Board approved workforce reduction of 47 people, representing ~40% of total headcount.
Company expects ~$0.9 million in restructuring charges from severance, benefits, and related costs.
Majority of cash payments and execution expected by end of Q3 2024.
Severance benefits contingent on affected employees signing general release of claims.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

RAPT Therapeutics, Inc. announced a restructuring with charges of approximately $0.9 million (47 people, or approximately 40% of the Company's existing headcount).

Type: restructuring
Charge: approximately $0.9 million
Headcount: 47 people, or approximately 40% of the Company's existing headcount

Exact text from the filing

for severance benefits is contingent upon such employee’s execution of a general release of claims against the Company. The Company estimates that it will incur approximately $0.9 million in restructuring charges in connection with the workforce reduction, consisting of cash-based expenses related to employee severance payments, benefits and related costs. The

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Source: SEC EDGAR

accession 0000950170-24-084991

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