As previously disclosed, on April 15, 2019, Achaogen, Inc. (the ‘Company') filed a voluntary petition for bankruptcy protection under Chapter 11 of Title 11 of the United States Bankruptcy Code. The filing was made in the United States Bankruptcy Court (the ‘Court') for the District of Delaware (Case No. 19-10844).

Effective as of the Closing, Bryan E. Roberts, Gregory Stea, Karen Bernstein and John C. Doyle resigned as members of the Company's board of directors (the ‘Board'). Kent Lieginger, John W. Smither and Blake Wise will continue as directors of the Board. Effective as of the Closing, Blake Wise, Chief Executive Officer, has departed the Company.

Mr. Wise will continue to serve as the Company's President and Secretary on a part-time hourly consulting basis at the rate of $500 per hour. As a non-employee director, Mr. Wise will now additionally be compensated with a cash retainer of $10,000 per quarter consistent with the compensation of other non-employee directors under the Company's Non-Employee Director Compensation Program. Nicholas K. Campbell of MERU, LLC, Chief Restructuring Officer of the Company, will continue in his role.