UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): January 27, 2020
SURFACE ONCOLOGY, INC.
(Exact name of registrant as specified in its charter)
Delaware | 001-38459 | 46-5543980 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||
50 Hampshire Street, 8th Floor Cambridge, MA | 02139 | |||
(Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (617)714-4096
Not Applicable
Former name or former address, if changed since last report
Check the appropriate box below if the Form8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule14a-12 under the Exchange Act (17 CFR240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule14d-2(b) under the Exchange Act (17 CFR240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule13e-4(c) under the Exchange Act (17 CFR240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading | Name of each exchange | ||
Common stock, $0.0001 par value per share | SURF | Nasdaq Global Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule12b-2 of the Securities Exchange Act of 1934(§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒
Item 2.05. Costs Associated with Exit or Disposal Activities.
On January 21, 2020, the Board of Directors of Surface Oncology, Inc. (the “Company”) approved a corporate restructuring to focus resources on its SRF617 and SRF388 programs. The restructuring will reduce the Company’s workforce by approximately 35%. The majority of the personnel and program restructuring will be completed bymid-February 2020. The Company currently estimates that it will record a charge in the first quarter of 2020 of approximately $1.3 million, consisting of severance, benefits and outplacement services.
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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.
Date: January 27, 2020 | SURFACE ONCOLOGY, INC. | |||||
By: | /s/ J. Jeffrey Goater | |||||
J. Jeffrey Goater | ||||||
President and Chief Executive Officer |
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