Scorpius Holdings, Inc.: restructuring charge — NightHawk Biosciences cuts 13 employees (14% workforce) in restructuring, refocuses on CDMO

Scorpius Holdings, Inc.

Board approved restructuring plan on Sept 18, 2023 to shed non-core assets and reduce costs.
Workforce reduction of 13 R&D employees; expects $0.2M-$0.3M in charges in Q3 2023.
Annual compensation savings estimated at $1.8M from the workforce reduction.
Company will refocus resources on Scorpius Biomanufacturing (CDMO) for growth.

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

Scorpius Holdings, Inc. announced a restructuring with charges of approximately $0.2 million to $0.3 million affecting research and development efforts (approximately 13 employees).

Type: restructuring
Charge: approximately $0.2 million to $0.3 million
Affected area: research and development efforts
Headcount: approximately 13 employees

Exact text from the filing

research and development efforts. The Company expects to substantially complete the employee reduction immediately and estimates that it will incur a total of approximately $0.2 million to $0.3 million in charges in connection with the workforce reduction, all of which is expected to be incurred in the third quarter of 2023. These charges consist primarily of

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Source: SEC EDGAR

accession 0001558370-23-015893

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