Notable Labs, Ltd.: restructuring charge — Notable Labs restructures: pauses Phase 2 Volasertib study, cuts 65% of workforce

Notable Labs, Ltd.

Board approved streamlined operating plan to explore strategic alternatives for maximizing shareholder value.
Phase 2 study of Volasertib in relapsed/refractory AML paused immediately.
Workforce and outside consultants reduced by ~65%; expected completion by September 24, 2024.
Anticipates ~$0.1 million in charges for termination benefits, recognized in Q3 and Q4 2024.
Kaile A. Zagger appointed as Chief Restructuring Officer and Interim CEO.

item 2.05

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

Notable Labs, Ltd. announced a restructuring with charges of approximately $0.1 million (approximately 65%).

Type: restructuring
Charge: approximately $0.1 million
Headcount: approximately 65%

Exact text from the filing

the Board of Directors also approved: (i) immediately pausing the implementation of the planned Phase 2 study of Volasertib in relapsed/refractory AML (r/r AML), and (ii) a reduction in the Company’s employee workforce and outside consultants by approximately 65%, which the Company expects to substantially complete by September 24, 2024. The Company anticipates recognizing approximately $0.1 million in total charges in connection with the reduction in force

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Source: SEC EDGAR

accession 0001493152-24-037122

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