secwatch.observer — SEC 8-K summary
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Issuer:     Instil Bio, Inc. (TIL)
CIK:        0001789769
Form:       8-K
Filed at:   2022-12-08T23:59:59+00:00
Accession:  0001789769-22-000102
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 2.05, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Instil Bio discontinues ITIL-168, cuts 60% of U.S. workforce, COO departs
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- Discontinuing ITIL-168 (unmodified TIL) programs; prioritizing CoStAR-TIL platform (ITIL-306) in Phase 1 for NSCLC, ovarian, RCC.
- U.S. workforce reduced by ~60%; restructuring expected substantially complete in February 2023.
- Estimated aggregate restructuring costs up to $20 million; COO Timothy Moore departing Dec 8, 2022, consulting 3 months.
- Initial ITIL-306 Phase 1 data expected in 2023; first patient dosed in 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1789769/000178976922000102/0001789769-22-000102-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1789769/000178976922000102/til-20221202.htm
  HTML page:      https://secwatch.observer/filing/0001789769-22-000102

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer