Viracta Therapeutics, Inc.: restructuring charge — Viracta Therapeutics cuts ~23% of workforce; expects $0.7M severance costs

Viracta Therapeutics, Inc.

Reduction in force approved July 22, 2024, affecting ~23% of employees.
Completion expected in August 2024.
Estimated $0.7M in severance and healthcare benefits expenses.
Company may incur additional charges not currently anticipated.

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

Viracta Therapeutics, Inc. announced a restructuring with charges of approximately $0.7 million (approximately 23% of the Company’s workforce).

Type: restructuring
Charge: approximately $0.7 million
Headcount: approximately 23% of the Company’s workforce

Exact text from the filing

and implemented a reduction in force, to be completed in August 2024, that impacted approximately 23% of the Company’s workforce. The Company expects to recognize approximately $0.7 million in total expenses for severance and related benefits for employees laid off under the reduction in force, consisting primarily of severance payments and continued healthcare

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Source: SEC EDGAR

accession 0000950170-24-087020

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