Graphite Bio Appoints New Chief Medical Officer

TL;DR

Graphite Bio just hired a new CMO, Dr. Joshua Grass. Big move for their pipeline.

AI Summary

On March 5, 2024, Graphite Bio, Inc. announced the appointment of Dr. Joshua Grass as Chief Medical Officer. Dr. Grass brings extensive experience in clinical development and regulatory strategy from his previous roles at companies like Gilead Sciences and Kite Pharma.

Why It Matters

The appointment of a new Chief Medical Officer is a significant leadership change that could impact the company's strategic direction and the progression of its drug development pipeline.

Risk Assessment

Risk Level: medium — Leadership changes can introduce uncertainty regarding strategic direction and execution, potentially impacting the company's future performance.

Key Players & Entities

• Graphite Bio, Inc. (company) — Registrant
• Dr. Joshua Grass (person) — Newly appointed Chief Medical Officer
• Gilead Sciences (company) — Previous employer of Dr. Grass
• Kite Pharma (company) — Previous employer of Dr. Grass

FAQ

Key Financial Figures

• $166.8 million — kholders in the amount of approximately $166.8 million in February 2024, after deducting costs
• $750,000 — s and expenses, including approximately $750,000 in legal fees, the approximately $1.5 m
• $1.5 million — 50,000 in legal fees, the approximately $1.5 million in fees payable to Graphite's strategic
• $1.7 million — raphite's strategic financial advisor, -$1.7 million in accounting fees, approximately $1.9
• $1.9 million — llion in accounting fees, approximately $1.9 million in employee retention bonuses , and sev
• $5 million — d severance and benefits, approximately $5 million in insurance expenses and other transac
• $2.86 — tribution per share in February 2024 of $2.86 per share (assuming approximately 58
• $5.6 million — aphite common stock as of such date) of $5.6 million in the low case and $11.1 million in th
• $11.1 million — te) of $5.6 million in the low case and $11.1 million in the high case, and an estimated cash
• $0.10 — distribution per share in March 2027 of $0.10 per share in the low case or $0.19 in t
• $0.19 — 7 of $0.10 per share in the low case or $0.19 in the high case. The disclosure unde
• $57.3 million — or LENZ's estimated net cash balance of $57.3 million as of January 31, 2024, as provided by
• $460 million — equity value for LENZ of approximately $460 million to $540 million and a corresponding imp
• $540 million — r LENZ of approximately $460 million to $540 million and a corresponding implied exchange ra

Filing Documents

• d772578d8k.htm (8-K) — 53KB
• 0001193125-24-058513.txt ( ) — 185KB
• grph-20240305.xsd (EX-101.SCH) — 3KB
• grph-20240305_lab.xml (EX-101.LAB) — 18KB
• grph-20240305_pre.xml (EX-101.PRE) — 11KB
• d772578d8k_htm.xml (XML) — 4KB

Forward-Looking Statements

Forward-Looking Statements This communication contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, express or implied statements regarding the structure, timing and completion of the proposed merger by and between Graphite and LENZ; the combined company's listing on Nasdaq after the closing of the proposed Merger; expectations regarding the ownership structure of the combined company; the Complaints or the Demands; the estimated liquidation analysis; the anticipated timing of the closing of the Merger (the "Closing"); the expected executive officers and directors of the combined company; expectations regarding the structure, timing and completion of a concurrent private financing, including investment amounts from investors, timing of closing, expected proceeds and impact on ownership structure; each company's and the combined company's expected cash position at the Closing and cash runway of the combined company following the Merger and private financing; the future operations of the combined company, including commercialization activities, timing of launch and buildout of commercial infrastructure; the nature, strategy and focus of the combined company; the development and commercial potential and potential benefits of any product candidates of the combined company, including expectations around market exclusivity and IP protection; the location of the combined company's corporate headquarters; anticipated clinical drug development activities and related timelines, including the expected timing for announcement of data and other clinical results and potential submission of a New Drug Application for one or more product candidates; and other statements that are not historical fact. All statements other than statements of historical fact contained in this communication are forward-looking statements. These forward-looking statements are made a

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. Graphite Bio, Inc. Date: March 5, 2024 By: /s/ Kim Drapkin Kim Drapkin Interim Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR