Sensei Biotherapeutics, Inc. (SNSE): restructuring charge — Sensei Biotherapeutics reduces workforce by 40%, closes Boston site, extends cash runway to H2 2025

Sensei Biotherapeutics, Inc.

Workforce reduction of ~40% to cut operating expenses; one-time charge of ~$1.0M expected in Q4 2022/Q1 2023.
Boston research site closed; operations consolidated to Rockville, MD; cash runway extended into H2 2025.
Robert Pierce terminated as Chief R&D Officer; moves to consulting role as Science Fellow effective Dec 7, 2022.
Edward van der Horst promoted to Chief Scientific Officer effective Dec 7, 2022; oversees SNS-101 development.
IND submission for lead antibody SNS-101 (anti-VISTA) anticipated by April 2023; discovery work on VSIG-4 and CD39 continues.

item 2.05 item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Robert Pierce

Chief Research and Development Officer

SNSE · Sensei Biotherapeutics, Inc.

Effective: 2022-12-07
Filed: December 8, 2022, 6:59 PM ET

On December 7, 2022, the Company notified Robert Pierce, who had been serving as the Company’s Chief Research and Development Officer, that his employment with the Company would terminate, effective December 7, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert Pierce was terminated as Chief Research and Development Officer at Sensei Biotherapeutics, Inc..

Action: terminated
Role: Chief Research and Development Officer

Exact text from the filing

On December 7, 2022, the Company notified Robert Pierce, who had been serving as the Company’s Chief Research and Development Officer, that his employment with the Company would terminate, effective December 7, 2022.

View on SEC.gov

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

Sensei Biotherapeutics, Inc. announced a restructuring with charges of approximately $1.0 million affecting Company (approximately 40% of its workforce).

Type: restructuring
Charge: approximately $1.0 million
Affected area: Company
Headcount: approximately 40% of its workforce

Exact text from the filing

On December 5, 2022, the Board of Directors of Sensei Biotherapeutics, Inc. (the “Company”) approved a plan to reduce the Company’s current workforce by approximately 40% to decrease operating expenses. The Company expects the reduction in force to be substantially completed in the first quarter of 2023. As a result, the Company estimates that it will incur a one-time charge of approximately $1.0 million in connection with one-time employee termination costs, including severance and other benefits.

View on SEC.gov

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

Sensei Biotherapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-300545

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