Instil Bio, Inc. (TIL): restructuring charge — Instil Bio closes UK manufacturing, cuts 61% workforce; collaborator to conduct ITIL-306 feasibility studies

Instil Bio, Inc.

Board approved closure of UK manufacturing and clinical operations; UK workforce reduced by ~61%.
Restructuring costs estimated up to $6.1M for severance and contract terminations; expect completion H1 2024.
No longer expects to report clinical data from ITIL-306-202 trial in 2024.
Entered agreement with collaborator for preclinical feasibility studies of ITIL-306 in NSCLC; potential IIT in China.

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

Instil Bio, Inc. announced a restructuring with charges of up to $6.1 million affecting Manchester, UK manufacturing and clinical trial operations (approximately 61%).

Type: restructuring
Charge: up to $6.1 million
Affected area: Manchester, UK manufacturing and clinical trial operations
Headcount: approximately 61%

Exact text from the filing

report clinical data from the ITIL-306-202 clinical trial in 2024 . In connection with the Plan, the Company estimates that it will incur aggregate restructuring costs of up to $6.1 million, including employee termination costs, including severance and other benefits, and contract termination costs. The charges that the Company expects to incur in connection with

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Instil Bio, Inc. filing history →

Source: SEC EDGAR

accession 0001789769-24-000018

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