UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 26, 2023
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
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Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officer; Compensatory Arrangements of Certain Officers. | ||||
Morphic Holding, Inc. (“Morphic” or “our”) announces that Praveen Tipirneni, M.D., our Chief Executive Officer, experienced an unexpected medical event, is actively recovering, and is taking a temporary medical leave of absence. Effective immediately, our Chief Financial Officer and Chief Operating Officer, Marc Schegerin, M.D., and our President, Bruce N. Rogers, Ph.D., will assume day-to-day operational responsibilities in the near-term. Biographical information for Dr. Rogers and Dr. Schegerin may be found in Morphic’s definitive proxy statement relating to its 2023 Annual Meeting of Shareholders filed with the U.S. Securities and Exchange Commission (the “Commission”) on April 21, 2023.
A copy of a press release dated September 26, 2023 announcing this appointment has been included as Exhibit 99.1 to this Current Report on Form 8-K but shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Exchange Act or the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit Number | Description | |||||||
| 99.1 | ||||||||
| 104 | The cover page on this Current Report on Form 8-K, formatted in Inline XBRL | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MORPHIC HOLDING, INC. | ||||||||
| Date: September 26, 2023 | By: | /s/ Marc Schegerin | ||||||
| Marc Schegerin, M.D. | ||||||||
| Chief Financial Officer and Chief Operating Officer | ||||||||
Exhibit 99.1
Morphic Holdings Announces CEO Dr. Praveen Tipirneni to Take Temporary Medical Leave of Absence
WALTHAM, Mass., Sept. 26, 2023 (GLOBE NEWSWIRE) – Morphic Holdings Inc. (Nasdaq: MORF) today announced that Chief Executive Officer Dr. Praveen Tipirneni suffered an emergent medical event and is taking a medical leave of absence. Dr. Tipirneni is expected to return to his role as Chief Executive Officer after he recovers. In the interim, Morphic’s executive team, led by Dr. Bruce Rogers, President and Dr. Marc Schegerin, COO and CFO, will continue with its leadership in day-to-day operational activities on a normal basis.
“Praveen’s health and continued recovery is the only focus for him and his family. We are sending them our thoughts and support and we look forward to him returning in good health,” said Gustav Christensen, Morphic’s Chairman of the Board of Directors. “In the meantime, our highly seasoned and experienced executives will work collaboratively, as always, to maintain business operations and ensure that the Company’s strategic objectives remain on track during Praveen’s leave.”
Morphic expects no interruptions or changes to its business operations and will provide an update on Dr. Tipirneni’s health as soon as is practicable. The Company remains confident in its differentiated proprietary pipeline and MInT platform technology to treat the high unmet need of serious chronic diseases, including the development prospects for MORF-057 in IBD.
About Morphic Holdings
Morphic Holdings is a biopharmaceutical company developing a portfolio of oral integrin therapies for the treatment of serious chronic diseases, including autoimmune, cardiovascular, and metabolic diseases, fibrosis, and cancer. Morphic is also advancing its pipeline and discovery activities in collaboration with Schrödinger using its proprietary MInT technology platform which leverages the Company’s unique understanding of integrin structure and biology. For more information, visit www.morphictx.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to: the company’s management team and operational objectives. Statements including words such as “believe,” “plan,” “continue,” “expect,” “will be,” “develop,” “signal,” “potential,” “anticipate” or “ongoing” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to risks and uncertainties that may cause Morphic’s actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties disclosed in this press release and other risks set forth in our filings with the Securities and Exchange Commission, including Morphic’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 filed with the SEC on February 23, 2023 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2023 filed with the SEC on August 23, 2023. These forward-looking statements speak only as of the date hereof and Morphic specifically disclaims any obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contacts
Morphic Therapeutic
Chris Erdman
chris.erdman@morphictx.com
617.686.1718