Per the 8-K filed 4/4: Each of the offer letter amendments provides for a waiver by the applicable Executive of the severance benefits such Executive is otherwise entitled to in connection with a qualifying termination in the event such qualifying termination occurs in connection with a wind-down event at any time
In addition, IF they raise $4M, they will receive additional cash bonuses...basically raising money to pay themselves not advance research. This makes any financing even MORE dilutive.
Poor leadership. Unfortunate that the phage opportunity is represented by these people.
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