---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-007432"
form_type: "8-K"
ticker: "NGNE"
cik: "0001404644"
company_name: "Neurogene Inc."
filed_at: "2023-03-10T23:59:59+00:00"
generated_at: "2026-06-18T05:20:10.959480+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Neoleukin cuts 70% of workforce, CEO to resign as company seeks strategic alternatives

## Summary
- Board approved 70% workforce reduction and re-prioritization to seek strategic alternatives to maximize shareholder value.
- Estimated restructuring costs between $2.5M and $3.0M, primarily severance and benefits, with $0.3M non-cash.
- CEO Jonathan Drachman resigns as President, CEO and director effective March 31, 2023; no replacement announced.
- Severance includes 12-month salary continuation, 3-month target cash bonus, accelerated option vesting of August 2022 grant.
- Execution of restructuring expected substantially complete by end of Q2 2023; costs incurred in first half of 2023.

## SEC filing metadata
- accession: 0001628280-23-007432
- form_type: 8-K
- ticker: NGNE
- cik: 0001404644
- company_name: Neurogene Inc.
- filed_at: 2023-03-10T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.05, 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1404644/000162828023007432/0001628280-23-007432-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1404644/000162828023007432/nltx-20230306.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-007432
- JSON: https://secwatch.observer/filing/0001628280-23-007432.json
- Plain text: https://secwatch.observer/filing/0001628280-23-007432.txt

## Key facts
- Executive change
  Jonathan G. Drachman departed as President, Chief Executive Officer, principal executive and financial officer at Neurogene Inc..
  - Action: resigning
  - Role: President, Chief Executive Officer, principal executive and financial officer
  source text: Jonathan G. Drachman, M.D. will be resigning from his role as President, Chief Executive Officer, principal executive and financial officer, and will also be resigning as a director of the Company, all effective March 31, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1404644/000162828023007432/0001628280-23-007432-index.htm
- Restructurings & Charges
  Neurogene Inc. announced a restructuring with charges of $2.5 million and $3.0 million (approximately 70%).
  - Type: restructuring
  - Charge: $2.5 million and $3.0 million
  - Headcount: approximately 70%
  source text: On March 6, 2023, the Board of Directors of Neoleukin Therapeutics, Inc. (the "Company") approved a reduction in force of the Company's workforce by approximately 70% and a re-prioritization of the Company’s focus to seek strategic alternatives to maximize shareholder value (the "Restructuring Plan"). The Company's current best estimate of costs it will incur for the Restructuring Plan total between $2.5 million and $3.0 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1404644/000162828023007432/0001628280-23-007432-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.