Oncternal Therapeutics, Inc.: restructuring charge — Oncternal Therapeutics cuts remaining workforce; retains 4 part-time employees for strategic alternatives

Oncternal Therapeutics, Inc.

Workforce reduction of all remaining employees effective Dec 2, 2024; only 4 retained part-time.
Estimated severance and termination costs of ~$2.4M, primarily recognized in Q4 2024.
CEO James B. Breitmeyer and officer Richard G. Vincent transition to 50% part-time effective Dec 2.
Board unanimously approved reduction on Nov 13; company exploring strategic alternatives, including sale or dissolution.

item 2.05 item 5.02

Executive movements

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

Role change

Richard G. Vincent

Other Named Officer

Oncternal Therapeutics, Inc.

Effective: 2024-12-02
Filed: November 14, 2024, 6:59 PM ET

In connection with the workforce reduction, James B. Breitmeyer, M.D., Ph.D. and Richard G. Vincent will transition to part-time employment status, reducing their time commitment to 50% of their current duties effective December 2, 2024.

Role change

James B. Breitmeyer

Chief Executive Officer

Oncternal Therapeutics, Inc.

Effective: 2024-12-02
Filed: November 14, 2024, 6:59 PM ET

In connection with the workforce reduction, James B. Breitmeyer, M.D., Ph.D. and Richard G. Vincent will transition to part-time employment status, reducing their time commitment to 50% of their current duties effective December 2, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Richard G. Vincent changed role as other_named_officer at Oncternal Therapeutics, Inc..

Action: transitioned to part-time employment status

Exact text from the filing

In connection with the workforce reduction, James B. Breitmeyer, M.D., Ph.D. and Richard G. Vincent will transition to part-time employment status, reducing their time commitment to 50% of their current duties effective December 2, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

James B. Breitmeyer changed role as Chief Executive Officer at Oncternal Therapeutics, Inc..

Action: transitioned to part-time employment status
Role: Chief Executive Officer

Exact text from the filing

In connection with the workforce reduction, James B. Breitmeyer, M.D., Ph.D. and Richard G. Vincent will transition to part-time employment status, reducing their time commitment to 50% of their current duties effective December 2, 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 $2.4 million (workforce reduction of its remaining employees).

Type: restructuring
Charge: approximately $2.4 million
Headcount: workforce reduction of its remaining employees

Exact text from the filing

Oncternal currently estimates that it will incur charges associated with the workforce reduction of all of its remaining employees of approximately $2.4 million primarily related to employee severance payments, benefits and related termination costs

View on SEC.gov

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

Source: SEC EDGAR

accession 0000950170-24-127184

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