Azenta elects Entrada CEO to Board of Directors

BURLINGTON, Mass. - Azenta, Inc. (NASDAQ: AZTA), a global provider of life sciences solutions, announced the election of Dipal Doshi, CEO of Entrada Therapeutics (NASDAQ: TRDA), to its Board of Directors following its Annual Meeting of Stockholders held today. Under Doshi’s leadership, Entrada has achieved remarkable financial performance, with revenue growth of 147% over the last twelve months and maintaining a healthy current ratio of 6.59. Doshi, who is also a Member of Entrada’s Board, was nominated for election by Azenta’s Board in December 2024, along with nine other returning directors.

John Marotta, President and CEO of Azenta, praised Doshi’s extensive experience in the biotechnology and pharmaceutical sectors, highlighting his strategic, operational, and commercial growth expertise, as well as his current role as a public company CEO. Doshi expressed enthusiasm about joining Azenta, citing the company’s market leadership and commitment to growth and innovation. He looks forward to contributing to Azenta’s future and making a meaningful impact.

Doshi’s career spans significant roles in business development, corporate strategy, and finance within the biotech and pharmaceutical industries. Before his tenure at Entrada, he served as Chief Business Officer at Amicus Therapeutics (NASDAQ:FOLD) and held senior positions at a healthcare private equity fund and Catalent (NYSE:CTLT). Doshi’s earlier experiences include work with Merrill Lynch’s Investment Banking Group and various roles at Eli Lilly and Company (NYSE:LLY). According to InvestingPro, Entrada’s strong financial performance reflects Doshi’s leadership capabilities, with the company maintaining profitability and an impressive earnings per share of $1.55.

In addition to his professional achievements, Doshi holds an MBA from The Wharton School of the University of Pennsylvania and a BA from Rutgers University. He serves on the Board of Directors at Äshibio, a clinical-stage biotech company, is a Fellow of the Aspen Institute, and sits on the Board of Advisors of Life Science Cares Boston.

Azenta, headquartered in Burlington (NYSE:BURL), MA, offers a suite of cold-chain sample management solutions and multiomics services, supporting drug development, clinical research, and advanced cell therapies. The company is known for its industry-leading brands such as GENEWIZ, FluidX, and Barkey, operating across North America, Europe, and Asia. InvestingPro analysis indicates Entrada is currently trading below its Fair Value, with an excellent Financial Health score of 3.56 out of 5. Subscribers can access additional insights and 8 more ProTips about Entrada’s market position and growth potential.

This addition to the Azenta Board marks a strategic alignment of leadership as the company continues to advance in the life sciences industry. The information for this article is based on a press release statement.

In other recent news, Entrada Therapeutics has received a Buy rating from Roth/MKM, with a price target of $29.00, based on the positive results from the Phase 2a study of its drug neflamapimod. The company’s revenue projections are expected to surpass $1 billion by 2034. Meanwhile, Oppenheimer has maintained an Outperform rating and raised the price target to $28.00, following Entrada’s third-quarter financial results which reported a top line of $19.6 million and a bottom line of ($0.35). H.C. Wainwright has also maintained its Buy rating and increased its price target to $20.00, following positive results from Entrada’s Phase 1 trial.

These recent developments highlight Entrada’s ongoing progress in its therapeutic programs. The company’s third-quarter financial results exceeded expectations, including a net income of $55 million and a solid cash balance of $470 million. Entrada’s preliminary data from its Phase 1 ENTR-601-44-101 study for Duchenne muscular dystrophy (DMD) has shown promising results, leading to upgrades from Oppenheimer, TD Cowen, and H.C. Wainwright.

Further, Entrada is progressing in its collaboration with Vertex Pharmaceuticals (NASDAQ:VRTX) on the DM1 program, having completed a Single Ascending Dose study. Regulatory filings for DMD are anticipated in the fourth quarter of 2024, potentially lifting the US clinical hold. Lastly, Entrada Therapeutics has promoted Natarajan Sethuraman, PhD, to President of Research and Development, a move expected to further propel the company’s research and development efforts.

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