secwatch.observer — SEC 8-K summary
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Issuer:     Gritstone bio, Inc. (—)
CIK:        0001656634
Form:       8-K
Filed at:   2024-10-16T23:59:59+00:00
Accession:  0001193125-24-238117
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 2.05, 3.01
LLM model:  deepseek-v4-flash:cloud@v2

Gritstone bio files Chapter 11, cuts 19% of workforce, receives Nasdaq delisting notice
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- Filed voluntary Chapter 11 petition on Oct 10, 2024 in Delaware bankruptcy court.
- Announced termination of ~25 employees (19% reduction) effective Nov 15, with 30-day severance.
- Expects one-time charge of ~$0.3M in Q4 2024 primarily for severance payments.
- Nasdaq notified company of delisting due to Chapter 11; trading suspended Oct 22, 2024.
- Company will not appeal Nasdaq's delisting determination.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1656634/000119312524238117/0001193125-24-238117-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1656634/000119312524238117/d773987d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-238117

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