secwatch.observer — SEC 8-K summary
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Issuer:     Calithera Biosciences, Inc. (—)
CIK:        0001496671
Form:       8-K
Filed at:   2023-01-09T23:59:59+00:00
Accession:  0001193125-23-004182
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 2.05, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Calithera Biosciences board approves complete liquidation; common stockholders expected to receive no distributions
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- Board unanimously approved dissolution and liquidation, subject to stockholder approval; special meeting in Q1 2023.
- Reduction-in-force of substantially all employees; estimated $8M in severance and related charges.
- CEO Susan Molineaux, CFO Stephanie Wong, and SVP Eric Sjogren to depart; CFO receives $100K retention bonus for wind-down.
- All clinical programs discontinued; Company does not expect any liquidating distributions to common stockholders due to Series A preferred liquidation preference.
- Plan to delist from Nasdaq, file certificate of dissolution upon approval, and satisfy remaining liabilities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1496671/000119312523004182/0001193125-23-004182-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1496671/000119312523004182/d406710d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-004182

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer