On January 22, 2021, the board of directors (‘the Board’) of Millendo Therapeutics, Inc. (‘the Company’) approved a corporate restructuring plan (‘the Plan’) furthering its ongoing efforts to align Company resources with its current strategy and operations. In connection with the Plan, the company plans to reduce its workforce by up to 85%, with the majority of the reduction in personnel expected to be completed by April 15, 2021. The Company expects to provide severance payments and continuation of group health insurance coverage for a specified period to the affected employees. The Company also plans to enter into retention arrangements with employees who are expected to remain with the Company. The company estimates that it will incur costs of up to $5.0 million to $5.5 million for termination benefits and retention arrangements related to the Plan, substantially all of which will be cash expenditures. The costs related to the Plan are subject to a number of assumptions, and actual results may differ materially. The company may also incur other charges or cash expenditures not currently contemplated due to events that may occur as a result of, or associated with, the Plan. If the Company subsequently determines that it will incur additional significant costs in connection with the Plan, it will amend this Current Report to disclose such information.