Cortexyme cuts 36% more staff (67% total); CMO Michael Detke departs May 2

Quince Therapeutics, Inc.

Additional 36% headcount reduction, bringing total to 67% from January 2022 levels; majority by end of May 2022.
Estimated $0.7M in cash expenses for severance and related costs.
CMO Michael Detke to step down effective May 2, 2022; cash severance of $354,750 (9 months base salary).
Additional cash severance and accelerated vesting if change in control within 3 months of departure.
Cost reductions triggered by clinical hold on atuzaginstat (COR388) IND.

item 2.05 item 5.02

Executive movements

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Departed

Michael Detke

Chief Medical Officer

QNCX · Quince Therapeutics, Inc.

Effective: 2022-05-02
Filed: May 2, 2022, 7:59 PM ET

Effective May 2, 2022 (the “Departure Date”), Michael Detke, M.D., Ph.D., the Company’s Chief Medical Officer, will step down from his position as the Chief Medical Officer.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Michael Detke departed as Chief Medical Officer at Quince Therapeutics, Inc..

Action: stepped down
Role: Chief Medical Officer

Exact text from the filing

Effective May 2, 2022 (the “Departure Date”), Michael Detke, M.D., Ph.D., the Company’s Chief Medical Officer, will step down from his position as the Chief Medical Officer.

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Quince Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-137040

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