PARIS, France, November 28th, 2022, 8:30 am CET – Pharnext SA (FR001400BV89 - ALPHA) (the “Company”), an advanced late-clinical stage biopharmaceutical company developing novel therapeutics for neurodegenerative diseases with high unmet medical need, today announces the resignation of Dr. David Horn SOLOMON from his duties as Chief Executive Officer and Director of the Company.
At the Board of Directors meeting held on November 27th, 2022, Dr. David Horn SOLOMON presented his resignation, with immediate effect, from his duties as Chief Executive Officer and Director of Pharnext SA. The Board expressed its thanks to Dr. David Horn SOLOMON for his contributions.
Effective November 27th, 2022, Joshua SCHAFER will serve as interim CEO while retaining his role as Chairman of the Board, ensuring the continuity of the development of the Company and PXT3003, which is currently undergoing a pivotal Phase III clinical trial in patients with Charcot-Marie-Tooth disease type 1A, the PREMIER study, and whose results are expected by the end of 2023.
Following the advice of its Compensation and Nomination Committee, the Board of Directors has chosen Dr. Jim KUO, currently Observer of the Company, to immediately succeed Dr. David Horn SOLOMON as Director.
Pharnext is an advanced clinical-stage biopharmaceutical company developing novel therapeutics for neurodegenerative diseases that currently lack curative and/or disease-modifying treatments. Pharnext has two lead products in clinical development. PXT3003 completed an international Phase III trial with positive topline results for the treatment of Charcot-Marie-Tooth disease type 1A (‘CMT1A’) and benefits from orphan drug status in Europe and the United States. An international pivotal Phase III study of PXT3003 in CMT1A, the PREMIER trial, is currently ongoing. PXT864 has generated encouraging Phase II results in Alzheimer’s disease and will be advanced through partnerships. Both of Pharnext’s lead assets originated from the Pleotherapy™ R&D approach. Pharnext draws the attention of investors to the financial and other risk factors detailed in its financial reports. More information can be found at www.pharnext.com.
Pharnext is listed on the Euronext Growth Stock Exchange in Paris (ISIN code: FR001400BV89).