Jun. 15 at 10:17 AM
$ADAP When a company gives its CFO a fixed “stay-until” date that’s only a few months away, it usually means the board expects a discrete transaction to close inside that window and then won’t need two finance chiefs.
Adaptimmune pushed Gavin Wood’s exit from 31 May to 31 Aug 2025 under a short extension agreement—after which his employment automatically ends .
The footnotes of its 2024 10-K already flagged a cost-cutting restructuring and said Wood would step down once “strategic alternatives” were settled .
While the March-quarter 10-Q warns of “substantial doubt” about going-concern status , the company has not filed—or prepared the paperwork—for a Chapter 11, and it just prepaid part of its Hercules loan, a move lenders seldom allow when a filing is imminent .
