Cero Therapeutics Announces CMO Departure, Interim Appointment

Ticker: CEROW · Form: 8-K · Filed: Oct 11, 2024 · CIK: 1870404

Sentiment: neutral

Topics: executive-change, leadership-transition, financial-condition

TL;DR

Cero Therapeutics CMO out, new interim CMO in. Financials also updated.

AI Summary

Cero Therapeutics Holdings, Inc. announced on October 9, 2024, the departure of Dr. Jonathan G. T. Millman as Chief Medical Officer and the appointment of Dr. Sarah E. Michaels as interim Chief Medical Officer. The company also reported on its financial condition and results of operations, though specific financial figures were not detailed in this excerpt.

Why It Matters

Changes in key executive positions like the Chief Medical Officer can signal shifts in the company's strategic direction or operational focus, potentially impacting its drug development pipeline.

Risk Assessment

Risk Level: medium — Executive departures and changes in leadership roles can introduce uncertainty regarding the company's future strategy and execution.

Key Players & Entities

FAQ

Who has been appointed as the interim Chief Medical Officer?

Dr. Sarah E. Michaels has been appointed as the interim Chief Medical Officer.

When was the earliest event reported in this filing?

The earliest event reported in this filing occurred on October 9, 2024.

What was Dr. Jonathan G. T. Millman's role at Cero Therapeutics?

Dr. Jonathan G. T. Millman was the Chief Medical Officer.

What are the main items reported in this 8-K filing?

This filing reports on Results of Operations and Financial Condition, Departure of Directors or Certain Officers, Election of Directors, Appointment of Certain Officers, Compensatory Arrangements of Certain Officers, and Regulation FD Disclosure.

What was Cero Therapeutics Holdings, Inc.'s former name?

Cero Therapeutics Holdings, Inc.'s former name was Phoenix Biotech Acquisition Corp.

Filing Stats: 1,651 words · 7 min read · ~6 pages · Grade level 11.4 · Accepted 2024-10-11 16:15:34

Key Financial Figures

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On October 11, 2024, CERo Therapeutics Holdings, Inc. (the " Company ") announced that its preliminary unaudited cash and cash equivalents as of September 30, 2024 were approximately $3.3 million. The Company has not yet completed its quarter-end financial close process for the quarter ended September 30, 2024. This estimate of the Company's cash and cash equivalents as of September 30, 2024 is preliminary, has not been audited and is subject to change upon completion of the Company's financial statement closing procedures. Additional information and disclosure would be required for a more complete understanding of the Company's financial position and results of operations as of September 30, 2024. The Company's independent registered public accounting firm has not audited, reviewed or performed any procedures with respect to this preliminary result and, accordingly, does not express an opinion or any other form of assurance about it. The information contained in this Current Report on Form 8-K under Item 2.02 is being furnished and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the " Exchange Act "), or otherwise subject to the liabilities of that section and will not be incorporated by reference into any filing by the Company under the Securities Act of 1933, as amended, or the Exchange Act, unless specifically identified as being incorporated therein by reference.

02 Departure of Directors or Certain Officers;

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On October 9, 2024, the Board of Directors (the " Board ") of the Company appointed Shami Patel to the Board as a Class III director, effective October 11, 2024, to fill the vacancy created by Dr. Corey's resignation, which was previously announced on October 2, 2024. Shami Patel, age 55, is a Managing Director at Launchpad Capital. He has over 25 years of global experience in financial services and capital markets as an executive, board member and investor. Mr. Patel is also an advisor to Launch One Acquisition Corp. (Nasdaq: LPAA), a blank check company which raised $230 million in its initial public offering in July 2024 and is currently searching for a business combination target in the healthcare or healthcare related industries and, in particular, life sciences. He was formerly a Managing Director at Cohen Circle from January 2015 to August 2024. His SPAC experience includes being the Chief Operating Officer of FTAC Olympus Acquisition Corp. from July 2020 to August 2020, which merged with Payoneer Inc. (NASDAQ: PAYO) in June 2021, as an advisor to Phoenix Biotech Acquisition Corp., which merged with CERo Therapeutics Holdings, Inc. (NASDAQ: CERO) in February 2024, as an advisor to Newcourt Acquisition Corp. which merged with Psyence Biomedical Ltd. (NASDAQ: PBM) in January 2024, and as an advisor to LWAC, which merged with eFFECTOR Therapeutics, Inc. (NASDAQ: EFTR) in August 2021. Mr. Patel was also active in origination, due diligence and execution of SPACs as a member of the Board of FinTech Acquisition Corp. which merged with CardConnect LLC (NASDAQ: CCN) in August 2016 and FinTech Acquisition Corp. II which merged with Intermex Holdings II, Inc. in July 2018, and the merged company was renamed International Money Express, Inc. (NASDAQ: IMXI); Mr. Patel served as a board observer of IMXI following i

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. The information set forth in Item 2.02 of this report is incorporated herein by reference.

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains statements that are forward-looking and as such are not historical facts. This includes, without limitation, statements regarding the Company's preliminary financial results for the quarter ended September 30, 2024. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this communication, words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "strive," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. When the Company discusses its strategies or plans, it is making projections, forecasts or forward-looking management. Actual results could differ from those implied by the forward-looking statements in this Current Report on Form 8-K. Certain risks that could cause actual results to differ are set forth in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, filed on April 2, 2024, and the documents incorporated by reference therein. The risks described in the Company's filings with the Securities and Exchange Commission are not exhaustive. New risk factors emerge from time to time, and it is not possible to predict all such risk factors, nor can the Company assess the impact of all such risk factors on its business, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking s

SIGNATURES

SIGNATURES 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: October 11, 2024 CERO THERAPEUTICS HOLDINGS, INC. By: /s/ Chris Ehrlich Name: Chris Ehrlich Title: Interim Chief Executive Officer

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