Kalaris Therapeutics, Inc 8-K, filed Jan 4, 2024
Kalaris Therapeutics, Inc. (KLRS)
About this 8-K
Kalaris Therapeutics, Inc filed this 8-K on January 4, 2024, reporting on events of January 1, 2024.
Items reported
- Item 2.05: Exit or restructuring costs
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
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Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
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AlloVir, Inc.
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| Item 2.05 | Costs Associated with Exit or Disposal Activities. |
On January 1, 2024, the board of directors of AlloVir, Inc. (“AlloVir”) approved a reduction its workforce by approximately 95% of AlloVir’s current employee base in order to reduce costs and preserve capital in light of AlloVir’s announcement on December 22, 2023 that it is discontinuing its three global Phase 3 posoleucel studies. This workforce reduction will take place primarily during the first quarter of 2024 and expects to be substantially completed by April 15, 2024. As a result of these actions, AlloVir expects to incur personnel-related restructuring charges of approximately $13 million in connection with one-time employee termination cash expenditures, including severance and other benefits, which are expected to be substantially incurred in the first quarter of 2024. AlloVir may also incur other charges or cash expenditures not currently contemplated due to events that may occur as a result of, or associated with, the workforce reduction or retention efforts. These estimates of the costs that AlloVir expects to incur, and the timing thereof, are subject to a number of assumptions and actual results may differ.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AlloVir, Inc. | ||||||
| Date: January 4, 2024 | By: | /s/ Edward Miller | ||||
| Name: Edward Miller | ||||||
| Title: General Counsel | ||||||