secwatch.observer — SEC 8-K summary
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Issuer:     Applied Molecular Transport Inc. (—)
CIK:        0001801777
Form:       8-K
Filed at:   2023-03-27T23:59:59+00:00
Accession:  0001801777-23-000025
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 2.05, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Applied Molecular Transport lays off 57% of workforce, appoints Shawn Cross CEO, initiates strategic review
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- Workforce reduced by 35 employees (~57%) to 26; severance costs estimated at ~$4.8M.
- CEO Tahir Mahmood departs effective March 24; remains on board. Shawn Cross named CEO and Chair.
- Company pauses R&D, ends AMT-101 Castro trial; exploring strategic alternatives with MTS Health Partners.
- Cash and cash equivalents ~$47.4M as of Feb 28, 2023.
- Shawn Cross granted 668,000 stock options; base salary raised to $580,000.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801777/000180177723000025/0001801777-23-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801777/000180177723000025/amti-20230321.htm
  HTML page:      https://secwatch.observer/filing/0001801777-23-000025

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