Oncternal Therapeutics ( (ONCT) ) has provided an update.
Oncternal Therapeutics, Inc. is undergoing a significant workforce reduction, effective by December 2, 2024, with only four employees remaining part-time for strategic initiatives. This move, unanimously approved by the board, is expected to cost approximately $2.4 million in severance and related expenses, primarily recognized in Q4 2024. Key executives, Dr. James B. Breitmeyer and Richard G. Vincent, will also transition to part-time roles, receiving severance and health benefits.
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