Management Change/Compensation Form 8 K

Item 2.05. Costs Associated with Exit or Disposal Activities.

On November 14, 2024, Oncternal Therapeutics, Inc. ("Oncternal") announced a workforce reduction of its remaining employees to be effective on or before December 2, 2024. Four Oncternal employees will remain in a part-time capacity in connection with the exploration of strategic alternatives. The workforce reduction was unanimously approved by Oncternal's board of directors on November 13, 2024.

Oncternal currently estimates that it will incur charges associated with the workforce reduction of all of its remaining employees of approximately $2.4 million primarily related to employee severance payments, benefits and related termination costs, which includes employees transitioning to part-time status. Oncternal expects that the reduction in force will be substantially complete with the majority of related charges recognized in the fourth quarter of 2024.

The estimates of the charges and expenditures that Oncternal expects to incur in connection with the workforce reduction, and the timing thereof, are subject to several assumptions and the actual amounts incurred may differ materially from these estimates. In addition, Oncternal may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur, including in connection with the implementation of the workforce reduction.