LeonaBio, Inc. (LONA): restructuring charge — Athira cuts 70% of workforce, pivots to ATH-1105 after LIFT-AD readout

LeonaBio, Inc.

Workforce reduction of ~70% (49 positions); one-time costs ~$2.8M third-quarter 2024.
Annualized cost savings ~$13.4M; cash runway extended into Q1 2026.
CFO Andrew Gengos and COO Rachel Lenington terminated without cause, effective Oct 1, 2024.
VP Finance Robert Renninger appointed principal financial and accounting officer.
Focus shifts to ATH-1105 (oral HGF modulator) for ALS; Phase 1 completes by year-end 2024.

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

LeonaBio, Inc. announced a restructuring with charges of approximately $2.8 million (approximately 49 positions, representing approximately 70% of the Company’s workforce).

Type: restructuring
Charge: approximately $2.8 million
Headcount: approximately 49 positions, representing approximately 70% of the Company’s workforce

Exact text from the filing

priorities, including the continued development of ATH-1105. In connection with the Restructuring, the Company currently estimates it will incur one-time costs of approximately $2.8 million, consisting primarily of cash severance costs and termination benefits, which the Company expects to recognize in the third quarter of 2024. The Company expects to substantially

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LeonaBio, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-107031

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