By Colin Kellaher
Theseus Pharmaceuticals, which is weighing a potential takeover, has fired a pair of top executives as part of a workforce reduction.
In a filing with the U.S. Securities and Exchange Commission on Monday, Theseus said it has terminated the employment of Timothy Clackson as president and chief executive and David Kerstein as chief medical officer, effective Dec. 7.
The Cambridge, Mass., clinical-stage biopharmaceutical company said Bradford Dahms, its chief financial officer, will assume the additional post of president, adding that it has signed consulting agreements with Clackson and Kerstein.
Theseus in late November said its two biggest investors, OrbiMed Advisors and Foresite Capital, had indicated their intent to explore an acquisition of the rest of the company, and that it had received an acquisition proposal from Tang Capital Partners, on behalf of Concentra Biosciences, to acquire Theseus for $3.80 a share in cash, along with a contingent value right linked to proceeds from any license or disposition of the company’s programs.
Theseus at the time said its board would review the expressions of interest.
Theseus shares closed Friday at $3.86, giving the company a market capitalization of around $171 million.
Write to Colin Kellaher at colin.kellaher@wsj.com
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