Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 15, 2020, William D. Schwieterman, a member of the Board of Directors (the "Board") of Mateon Therapeutics, Inc. (the "Company"), notified the Company of his resignation as a director, effective immediately. Mr. Schwieterman indicated that due to his current work obligations, he would be unable to give the proper time and attention to his service as a director of the Company's Board. Mr. Schweiterman did not express any disagreements with the operations, policies or practices of the Company on any matters.

On January 22, 2020, David Diamond, CPA, agreed to join the Board of the Company, and fill the vacancy created by Mr. Schwieterman's resignation, on terms that are yet to be finalized.

Mr. Diamond provides strategic guidance and operational oversight to CEOs and Board Directors in the Life Sciences industry. David has significant experience assisting management teams and board directors with capital financing and strategic business planning nationally and internationally. David has built strong relationships with Wall Street Bankers. He is the National Life Sciences and Technology Practice Lead at Mayer Hoffman McCann P.C. a national CPA firm. He has over 30 years of experience in both public accounting and industry. He is an active CPA and a former auditor. He was a Board member for Kreston International ($2 billion CPA network) for seven years and a San Diego Venture Group board member for seven years and was a Founding Member of UCSD Connect. He is a Certified Director in Corporate Governance from UCLA Anderson Graduate School of Management and a CPA in USA, Israel and South Africa.

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