Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Deborah Knobelman was appointed as President and Interim Chief Executive Officer at Kronos Bio, Inc..
- Action
- appointed
- Role
- President and Interim Chief Executive Officer
Exact text from the filing
On November 22, 2024, Deborah Knobelman, Ph.D., the Company’s Chief Financial Officer and Chief Operating Officer, was appointed to serve as President and Interim Chief Executive Officer, effective December 3, 2024.
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Executive change
SEC 8-K Item 5.02
confidence 0.95
Norbert Bischofberger resigned as President and Chief Executive Officer at Kronos Bio, Inc..
- Action
- resigned
- Role
- President and Chief Executive Officer
Exact text from the filing
On November 22, 2024, Norbert Bischofberger, Ph.D., resigned as the Company’s President and Chief Executive Officer, effective December 3, 2024.
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Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
Kronos Bio, Inc. announced a restructuring with charges of approximately $3.7 million (approximately 83% reduction in its workforce).
- Type
- restructuring
- Charge
- approximately $3.7 million
- Headcount
- approximately 83% reduction in its workforce
Exact text from the filing
On November 22, 2024, the Board of Directors (the “Board”) of Kronos Bio, Inc. (the “Company”) approved an approximately 83% reduction in its workforce as part of a strategic resource allocation and cost containment plan. The workforce reduction is expected to be substantially completed on December 31, 2024. In connection with the reduction in workforce, the Company expects to incur a charge of approximately $3.7 million relating to the cash-based expense of the employee severance, benefits, and related costs. The Company anticipates payments associated with the workforce reduction will be substantially complete by the end of the first quarter of 2025.
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