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Climb Bio (CLYM) consolidates CFO and principal accounting officer roles

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(High)
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(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Climb Bio, Inc. reported that Senior Vice President, Finance and principal accounting officer Cindy Driscoll will separate from the company by mutual agreement, effective April 30, 2026. This creates a leadership change in the finance organization.

Chief Financial Officer Dr. Susan Altschuller, who has served as CFO since October 2025, will also become the company’s principal accounting officer as of the separation date. The company highlights her extensive prior CFO and financial leadership roles in several biopharmaceutical companies and notes that her existing compensation arrangements remain unchanged. The filing also states that she has no disclosable related-party transactions or family relationships with directors or officers.

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
principal accounting officer financial
"its Senior Vice President, Finance and principal accounting officer, mutually agreed"
The Principal Accounting Officer is the person responsible for making sure a company's financial records are accurate and follow the rules. They play a key role in preparing financial reports that show how well the company is doing. This helps investors, managers, and regulators trust the company's financial information.
Emerging growth company regulatory
"Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
principal financial officer financial
"the Company’s Chief Financial Officer and principal financial officer, will also serve"
The principal financial officer is the senior executive who runs a company's financial operations: preparing and certifying financial reports, managing accounting controls, budgets and cash flow, and advising on financial strategy. Investors care about this role because its competence affects how trustworthy the company’s numbers are, how well it manages risk and capital needs, and the credibility of forecasts—like the chief navigator steering a firm's financial course.
Item 404(a) of Regulation S-K regulatory
"no direct or indirect interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K"
Understanding 8-K Material Events →
false 0001768446 0001768446 2026-04-01 2026-04-01
 
 

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): April 1, 2026

 

 

CLIMB BIO, INC.

(Exact Name of Registrant as Specified in its Charter)

 

 

 

Delaware   001-40708   83-2273741

(State or Other Jurisdiction

of Incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

20 William Street, Suite 145  
Wellesley Hills, Massachusetts   02481
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s Telephone Number, Including Area Code: (866) 857-2596

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:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading
Symbol(s)

  

Name of each exchange

on which registered

Common Stock, par value $0.0001 per share   CLYM  

The Nasdaq Stock Market LLC

(The Nasdaq Global Market)

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 ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 
 

Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Departure of Senior Vice President, Finance

On April 1, 2026, Climb Bio, Inc. (the “Company”) and Cindy Driscoll, its Senior Vice President, Finance and principal accounting officer, mutually agreed that Ms. Driscoll would separate from the Company, effective April 30, 2026 (the “Separation Date”).

Appointment of Principal Accounting Officer

As a result of Ms. Driscoll’s separation, Dr. Altschuller, the Company’s Chief Financial Officer and principal financial officer, will also serve as the Company’s principal accounting officer, effective as of the Separation Date.

Susan Altschuller, Ph.D., MBA, 44, has served as the Company’s Chief Financial Officer since October 2025. She most recently served as Chief Financial Officer of Dragonfly Therapeutics, Inc., a private biotechnology company, from August 2024 to December 2024. Prior to that, she served as the Chief Financial Officer of Cerevel Therapeutics, Inc., or Cerevel, a publicly traded clinical-stage biopharmaceutical company, from May 2023 until its acquisition by AbbVie Inc. in August 2024. Prior to joining Cerevel, Dr. Altschuller was Chief Financial Officer of ImmunoGen, Inc., or ImmunoGen, a publicly traded biopharmaceutical company, from July 2020 to March 2023. Before ImmunoGen, Dr. Altschuller worked at Alexion Pharmaceuticals, Inc., a global biopharmaceutical company, where she served as Head of Enterprise Finance from April 2020 to July 2020 and Head of Investor Relations from January 2018 to April 2020. Dr. Altschuller holds a BSE in Biomedical Engineering with honors from Tulane University, a Ph.D. in biomedical engineering from the Illinois Institute of Technology, and an MBA from the MIT Sloan School of Management. She previously served as a director of Mural Oncology plc from November 2023 to September 2024 and is a founding board member of the HNRNP Family Foundation.

Dr. Altschuller does not have a family relationship with any of the Company’s officers or directors and has no direct or indirect interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.

There have been no changes to Dr. Altschuller’s compensatory plans or arrangements in connection with her appointment described herein.

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.

 

      Climb Bio, Inc.
Date: April 3, 2026     By:  

/s/ Aoife Brennan

            Aoife Brennan, M.B., Ch.B.
            President and Chief Executive Officer

Source: View Original Filing on SEC EDGAR

FAQ

What leadership change did Climb Bio (CLYM) announce in this 8-K?

Climb Bio announced that Senior Vice President, Finance and principal accounting officer Cindy Driscoll will separate from the company by mutual agreement, effective April 30, 2026. This triggers a reassignment of principal accounting officer responsibilities within the existing finance leadership team.

Who will serve as Climb Bio (CLYM)’s principal accounting officer after April 30, 2026?

After April 30, 2026, Chief Financial Officer Dr. Susan Altschuller will also serve as Climb Bio’s principal accounting officer. She already holds the CFO and principal financial officer roles, so this change consolidates key financial reporting responsibilities under one executive.

Did Climb Bio (CLYM) change Dr. Susan Altschuller’s compensation with this new role?

No, Climb Bio states there have been no changes to Dr. Susan Altschuller’s compensatory plans or arrangements in connection with her appointment as principal accounting officer. She assumes additional responsibilities while continuing under her existing compensation structure described in prior arrangements.

What is Cindy Driscoll’s separation date from Climb Bio (CLYM)?

Cindy Driscoll’s separation from Climb Bio is effective April 30, 2026. Until that separation date, she remains Senior Vice President, Finance and principal accounting officer, after which her responsibilities transition to Chief Financial Officer Dr. Susan Altschuller.

What experience does Climb Bio (CLYM)’s CFO Susan Altschuller bring to the principal accounting officer role?

Dr. Susan Altschuller has served as CFO of multiple biopharmaceutical companies, including Cerevel Therapeutics and ImmunoGen, and held finance leadership roles at Alexion Pharmaceuticals. She also holds advanced degrees in biomedical engineering and an MBA from MIT Sloan, supporting her expanded financial oversight responsibilities.

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