OnKure Therapeutics, Inc. (OKUR): restructuring charge — Reneo's mavodelpar fails Phase 3 STRIDE study; cuts workforce 70%

OnKure Therapeutics, Inc.

Pivotal STRIDE trial of mavodelpar in primary mitochondrial myopathies missed primary endpoint (12MWT at week 24) and key secondary.
Company suspends all mavodelpar development including STRIDE AHEAD; workforce reduced ~70%.
Estimated Q4 2023 charges of ~$2.5M for severance and termination-related costs.
Company has >$100M in cash, cash equivalents, and short-term investments to fund operations.

item 2.05 item 8.01

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

OnKure Therapeutics, Inc. announced a restructuring with charges of approximately $2.5 million.

Type: restructuring
Charge: approximately $2.5 million

Exact text from the filing

the Company estimates that it will incur charges of approximately $2.5 million associated with cash severance payments and other employee termination-related costs in the fourth quarter of 2023.

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

OnKure Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-295039

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