-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AwgOnFo9lQQk1474T2K/Y+USHdt9r4VqQ1aYjujH204orPhdXH6MA7jKp6Y8iGiU pMAnjPWSxrSZrdAczfWguQ== 0000950123-09-065781.txt : 20091124 0000950123-09-065781.hdr.sgml : 20091124 20091124172503 ACCESSION NUMBER: 0000950123-09-065781 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20091123 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities FILED AS OF DATE: 20091124 DATE AS OF CHANGE: 20091124 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VION PHARMACEUTICALS INC CENTRAL INDEX KEY: 0000944522 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] IRS NUMBER: 133671221 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-26534 FILM NUMBER: 091205656 BUSINESS ADDRESS: STREET 1: 4 SCIENCE PARK CITY: NEW HAVEN STATE: CT ZIP: 06511 BUSINESS PHONE: 2034984210 MAIL ADDRESS: STREET 1: FOUR SCIENCE PARK CITY: NEW HAVEN STATE: CT ZIP: 06511 FORMER COMPANY: FORMER CONFORMED NAME: ONCORX INC DATE OF NAME CHANGE: 19950615 8-K 1 y02649e8vk.htm FORM 8-K e8vk
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 
Date of Report (Date of earliest event reported) November 23, 2009
VION PHARMACEUTICALS, INC.
(Exact Name of Registrant as Specified in its Charter)
         
Delaware   000-26534   13-3671221
         
(State or Other Jurisdiction   (Commission   (IRS Employer
of Incorporation)   File Number)   Identification No.)
     
4 Science Park, New Haven, CT   06511
     
(Address of Principal Executive Offices)   (Zip Code)
Registrant’s telephone number, including area code: (203) 498-4210
Not Applicable
 
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 

Item 2.05   Costs Associated with Exit or Disposal Activities.
On November 23, 2009, in order to implement a reduction in workforce, Vion Pharmaceuticals, Inc. (the “Company”) provided notification to 16 of its employees and one officer that their last day of employment would be December 7, 2009. One other employee was notified that her last day of employment would be December 31, 2009. In addition, another officer will be resigning from the Company on November 30, 2009 and thereafter will continue as a consultant to the Company on an as needed basis.
These reductions totaling 19 employees represent approximately 48% of the Company’s workforce. Under the Company’s retention plan adopted in July 2008, the terminated employees would be entitled to severance totaling $1.2 million for being terminated without cause prior to December 31, 2009. The Company does not intend to pay such severance to the notified employees. The reduction in the workforce represents annual cash savings to the Company of approximately $2.7 million.

 

 

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.
         
  VION PHARMACEUTICALS, INC.
 		  
Date: November 24, 2009  By:   /s/ Howard B. Johnson    
  Name:   Howard B. Johnson   
  Title:   President and Chief Financial Officer   
 

 

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