Molecular Templates Announces Resignation of Chief Financial Officer and Appointment of Interim CFO

Molecular Templates, Inc. (NASDAQ: MTEM) recently disclosed in an 8-K filing that Jason Kim, the Company’s President, Chief Financial Officer, and Treasurer, will be resigning from his position, effective December 8, 2024. This departure, as per the filing, is not due to any disagreement with the Company, its management, or the Board of Directors. According to the amended and restated executive employment agreement and a mutual release agreement dated December 2, 2024, Mr. Kim will not receive severance payments or continuation of health benefits. However, outstanding options granted to him will continue to vest and be exercisable during the Transition Period under specific terms.

In light of this development, on December 3, 2024, the Company’s Board appointed Eric Poma, Ph.D., the current Chief Executive Officer and Chief Scientific Officer, as the Interim Chief Financial Officer and Treasurer. Dr. Poma, a member of the Board since August 2017, brings a wealth of experience to his new position. No additional compensatory arrangements have been made with Dr. Poma in connection with his interim roles, and no conflicts of interest have been identified.

Dr. Poma, who founded Threshold Pharmaceuticals’ predecessor company, has been instrumental in the Company’s technological advancements. With a background in Microbiology, Immunology, and Business Development, Dr. Poma is well-equipped to assume the responsibilities of Interim Chief Financial Officer.

The Company emphasized that the transition in leadership is part of its commitment to maintaining operational continuity and achieving its strategic objectives. The press release also specified that no new arrangements have been made with Dr. Poma at this time.

Following the essential changes, Molecular Templates assures its stakeholders of a seamless transition and remains focused on its mission and operations. For more details on this event, interested parties may refer to the full 8-K filing on the SEC’s website.

This news update comes on the heels of Sonoco Products Company’s recent acquisition of Eviosys, Europe’s leading metal packaging manufacturer, creating a global leader in metal packaging. This strategic move is aimed at strengthening innovation, sustainability, and service offerings to customers on a global scale.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Molecular Templates’s 8K filing here.

Molecular Templates Company Profile

Molecular Templates, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of biologic therapeutics for the treatment of cancer and other serious diseases in the United States. The company develops therapies through its proprietary biologic drug platform technology (ETB).