Oncternal Therapeutics, Inc.: restructuring charge — Oncternal cuts 37% workforce, discontinues two clinical trials, explores strategic alternatives

Oncternal Therapeutics, Inc.

Workforce reduction of ~10 employees (37%) to preserve cash; severance charges of ~$1.0M expected in Q3 2024.
CMO Salim Yazji to depart effective October 1, 2024, with severance benefits.
Discontinues ONCT-534 (prostate cancer) after interim Phase 1 showed no clinically meaningful PSA improvement in 20 patients.
Discontinues ONCT-808 (CAR T for B-cell lymphoma); had complete metabolic response but one death at highest dose.
Company will cease all product development and pursue strategic alternatives including sale, merger, or asset licensing.

item 2.05 item 5.02 item 8.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Salim Yazji

Chief Medical Officer

Oncternal Therapeutics, Inc.

Effective: 2024-10-01
Filed: September 12, 2024, 7:59 PM ET

Salim Yazji, M.D. will cease serving as Chief Medical Officer, to be effective as of October 1, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Salim Yazji departed as Chief Medical Officer at Oncternal Therapeutics, Inc..

Action: will cease serving
Role: Chief Medical Officer

Exact text from the filing

Salim Yazji, M.D. will cease serving as Chief Medical Officer, to be effective as of October 1, 2024.

View on SEC.gov

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

Oncternal Therapeutics, Inc. announced a restructuring with charges of approximately $1.0 million (approximately 10 employees, constituting approximately 37% of Oncternal’s workforce).

Type: restructuring
Charge: approximately $1.0 million
Headcount: approximately 10 employees, constituting approximately 37% of Oncternal’s workforce

Exact text from the filing

Oncternal currently estimates that it will incur charges associated with the workforce reduction of approximately $1.0 million primarily related to employee severance payments, benefits and related termination costs.

View on SEC.gov

4 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Source: SEC EDGAR

accession 0000950170-24-105987

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.