secwatch / observer
8-K filed April 12, 2024, 7:59 PM ET CIK 0001183765
other material confidence high sentiment negative materiality 0.70

Molecular Templates, Inc.: restructuring charge — Molecular Templates cuts 30% of workforce; CMO Maurizio Voi to depart April 30

Molecular Templates, Inc.

item 2.05item 5.02

Executive movements

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

Departed

Maurizio Voi

Chief Medical Officer
Molecular Templates, Inc.
Effective
2024-04-30
Filed
April 12, 2024, 7:59 PM ET
Effective April 30, 2024 and in connection with the Reduction in Force, Maurizio Voi, M.D. will cease to serve as the Company’s Chief Medical Officer.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Maurizio Voi departed as Chief Medical Officer at Molecular Templates, Inc..

Action
ceased to serve
Role
Chief Medical Officer
Exact text from the filing
Effective April 30, 2024 and in connection with the Reduction in Force, Maurizio Voi, M.D. will cease to serve as the Company’s Chief Medical Officer.
View on SEC.gov
Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 1.0

Molecular Templates, Inc. announced a restructuring with charges of approximately $0.1 million (approximately 30%).

Type
restructuring
Charge
approximately $0.1 million
Headcount
approximately 30%
Exact text from the filing
On April 11, 2024, the Board of Directors of Molecular Templates, Inc. (the “Company” or “Molecular Templates”) approved a reduction in force (the “Reduction in Force”) in order to extend its resources to better position the organization and to allow the Company to continue to support its clinical studies for MT-6402, MT-8421 and MT-0169. The Reduction in Force would reduce the Company’s current workforce by approximately 30%. The Company estimates that it will incur aggregate pre-tax charges of approximately $0.1 million in connection with the Reduction in Force, primarily consisting of legal fees and other related termination costs.
View on SEC.gov

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Source: SEC EDGAR
accession 0001193125-24-094733
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