Timothy Cunningham
About Timothy Cunningham
Timothy M. Cunningham, 63, serves as Interim Chief Financial Officer (Principal Financial Officer) of Rein Therapeutics (RNTX) since May 2024 and signs SOX 302 certifications on quarterly filings; he also signs current reports on behalf of the registrant . He is engaged via Danforth Advisors and is not directly compensated by RNTX; his education includes an MBA (Boston University), BS in Accounting (Boston College), and he is a CPA in Florida . Company performance during his tenure reflects persistent losses: FY 2024 net loss $62.88M*, FY 2023 net loss $15.73M*, FY 2022 net loss $27.33M*, with EBITDA of -$28.05M*, -$15.23M*, -$27.48M* respectively; the proxy’s pay-versus-performance section also highlights negative net income and TSR disclosures .
Values marked with * retrieved from S&P Global.
Company Performance Snapshot
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Net Income - (IS) ($USD) | -$27,329,000* | -$15,732,000* | -$62,883,000* |
| EBITDA ($USD) | -$27,478,000* | -$15,229,000* | -$28,049,000* |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Danforth Advisors | Chief Financial Officer Consultant | Sep 2020–present | Provides outsourced CFO leadership to life sciences companies; enables lean finance operations |
| Neuphoria Therapeutics (formerly Bionomics Ltd.) | Chief Financial Officer | May 2023–present | CFO of public biotech; cross-company finance leadership and controls |
| Peak Bio, Inc. | Acting Chief Financial Officer | Sep 2022–Jan 2024 | Interim CFO through transition; stabilized reporting and controls |
| SAB Biotherapeutics, Inc. | Acting Chief Financial Officer | Oct 2020–Dec 2021 | Interim CFO; supported capital markets readiness |
| Organogenesis | Chief Financial Officer | Jul 2016–Aug 2020 | Led finance at commercial-stage life sciences; public-company rigor |
| KPMG LLP; PricewaterhouseCoopers LLP | Audit/Advisory (early career) | Not disclosed | Foundational public accounting and audit expertise |
External Roles
| Organization | Role | Start | Scope/Notes |
|---|---|---|---|
| Neuphoria Therapeutics, Inc. | Chief Financial Officer | May 2023 | Public-company CFO; concurrent with RNTX interim CFO engagement |
Fixed Compensation
- Engagement structure: Mr. Cunningham is not directly compensated by RNTX; CFO services are provided through a consulting agreement with Danforth Advisors .
- Compensation mechanics (at time of appointment): Company pays Danforth an agreed-upon hourly rate for Mr. Cunningham’s services and reimburses expenses; agreement terminable for cause with 30 days’ notice and without cause with 60 days’ notice .
- Base salary at RNTX: None (outsourced CFO model) .
| Component | Terms | Amount |
|---|---|---|
| Consulting arrangement | Hourly fee to Danforth; expenses reimbursed; 30-day cause / 60-day no-cause termination | Undisclosed |
| Direct salary from RNTX | Not directly compensated | $0 |
Performance Compensation
- No RNTX equity awards, cash incentives, or PSU/RSU grants are disclosed for Mr. Cunningham; he is not listed among NEOs in the Summary Compensation Table and is not directly compensated by RNTX .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not applicable | — | — | — | — | — |
Equity Ownership & Alignment
- Beneficial ownership: Mr. Cunningham is not included in the directors/NEO beneficial ownership table; no individual share/option holdings are disclosed for him in the proxy .
- Hedging/pledging: Company policy prohibits short sales, puts/calls, hedging, margin accounts, and pledges for employees and directors, which reduces misalignment and collateral risk .
- Ownership guidelines: Company states it does not maintain formal executive equity ownership guidelines; equity awards are discretionary and time-/performance-based when granted .
Employment Terms
- Role at RNTX: Interim Chief Financial Officer (Principal Financial Officer), appointed May 2024; signs SOX 302 certifications for quarterly reports and SEC filings .
- Contract structure: Services via Danforth Advisors consulting agreement; hourly-rate compensation and expenses reimbursed; terminable with 30 days (cause) or 60 days (no cause) notice .
- Clawback: Company adopted a Nasdaq-compliant incentive compensation recovery (clawback) policy in Nov 2023 covering incentive-based compensation for executives in the event of restatements .
- Non-compete/Non-solicit/Garden leave: No RNTX-specific restrictive covenants disclosed for Mr. Cunningham; outsourced engagement terms govern .
Investment Implications
- Alignment and selling pressure: The outsourced CFO structure (no direct RNTX salary or equity grants) implies limited near-term insider selling pressure tied to personal awards and a lower fixed cash cost base; however, it also means lower equity alignment versus NEOs with options .
- Retention risk: The Danforth agreement’s 30/60-day termination clauses create moderate transition risk if either party elects to terminate; continuity plans around SEC certifications and quarter-end reporting should be monitored .
- Controls and governance: Cunningham’s role as Principal Financial Officer with SOX 302 certifications underscores accountability for disclosure and ICFR; the company’s anti-hedging/pledging and clawback policies are governance positives that mitigate misalignment and restatement-related risk .
- Performance backdrop: RNTX remains loss-making with EBITDA and net income negative through FY 2024*, elevating financing and execution risk; finance leadership experience spanning multiple public biotechs and prior CFO tenures is a positive for capital markets and controls in a challenging operating context .
Values marked with * retrieved from S&P Global.