(CercleFinance.com) – Pharnext announced Monday the resignation with immediate effect of its managing director David Solomon and his replacement on an interim basis by Joshua Schafer, the current chairman of the board of directors.
Following the opinion of its Remuneration and Appointments Committee, the Board chose Dr. Jim Kuo, currently censor of the Company, to immediately succeed Dr. Solomon as director.
As a reminder, the biopharmaceutical company is developing PXT3003, a compound currently in pivotal Phase III clinical study in patients with Charcot-Marie-Tooth disease type 1A.
The results of this trial are expected at the end of 2023.
Following this announcement, the Pharnext share – which was the subject of a reverse stock split last week – lost more than 8% on Monday morning on the Paris Stock Exchange.
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