{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-23-010574","form_type":"8-K","ticker":null,"cik":"0001426332","company_name":"NGM BIOPHARMACEUTICALS INC","filed_at":"2023-04-04T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.821287+00:00","generated_at":"2026-06-17T06:26:15.805225+00:00","sec_items":["2.05","5.02","7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"NGM Biopharmaceuticals lays off 75 employees, CSO resigns; cash runway extended to Q2 2025","bullets":["Workforce reduced by 75 (~33% of headcount); restructuring charges estimated at $5M (majority in Q2 2023).","Founder and CSO Jin-Long Chen resigns, effective Apr 4; Dan Kaplan appointed as new CSO.","Company expects existing cash to fund operations into Q2 2025 (extended cash runway).","Restructuring includes separation packages (≥3 months salary, healthcare through July, outplacement).","Restructuring driven by difficulty raising capital after CATALINA trial data did not support financing."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-23-010574","json":"https://secwatch.observer/filing/0001628280-23-010574.json","markdown":"https://secwatch.observer/filing/0001628280-23-010574.md","text":"https://secwatch.observer/filing/0001628280-23-010574.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1426332/000162828023010574/0001628280-23-010574-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1426332/000162828023010574/ngm-20230403.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T06:26:15.805225+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"4de6ca601c","claim":"Jin-Long Chen resigned as member of the Board at NGM BIOPHARMACEUTICALS INC.","evidence_excerpt":"On April 3, 2023, Jin-Long Chen, Ph.D. resigned as Chief Scientific Officer of the Company, and as a member of the Board, in each case effective as of April 4, 2023.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1426332/000162828023010574/0001628280-23-010574-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"member of the Board"}],"fact_type":"executive_change"},{"claim_id":"f224a1ef1c","claim":"Jin-Long Chen resigned as Chief Scientific Officer at NGM BIOPHARMACEUTICALS INC.","evidence_excerpt":"On April 3, 2023, Jin-Long Chen, Ph.D. resigned as Chief Scientific Officer of the Company, and as a member of the Board, in each case effective as of April 4, 2023.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1426332/000162828023010574/0001628280-23-010574-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Chief Scientific Officer"}],"fact_type":"executive_change"},{"claim_id":"bff2338470c6bb691e2913cfdb23317635bb9a1a","claim":"NGM BIOPHARMACEUTICALS INC announced a restructuring with charges of approximately $5.0 million (75 people, or approximately 33% of the Company's existing headcount).","evidence_excerpt":"approximately 33% of the Company’s existing headcount. The restructuring was communicated to employees on April 4, 2023. The Company estimates that it will incur approximately $5.0 million in restructuring charges in connection with the restructuring, consisting of (i) approximately $4.5 million in cash-based expenses related to employee severance and notice period","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1426332/000162828023010574/0001628280-23-010574-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $5.0 million"},{"label":"Headcount","value":"75 people, or approximately 33% of the Company's existing headcount"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}