SAN DIEGO, CA – Contineum Therapeutics, Inc. (NASDAQ:CTNM) announced the appointment of Sarah Boyce to its board of directors, effective today. Boyce joins the board as a Class I director and will also chair the Nominating and Corporate Governance Committee, replacing Lori Lyons-Williams who remains a committee member.
Boyce currently serves as President and CEO of Avidity Biosciences, Inc. (NASDAQ:RNA). Her extensive experience includes leadership roles at Akcea Therapeutics (NASDAQ:AKCA), Ionis Pharmaceuticals (NASDAQ:IONS), Forest Laboratories, Alexion Pharmaceuticals (NASDAQ:ALXN), Novartis (SIX:NOVN), Bayer (OTC:BAYRY), and F. Hoffmann-La Roche. Boyce holds a B.S. in microbiology from the University of Manchester, England.
In her new role, Boyce will receive compensation under the company's Non-Employee Director Compensation Program, including an option grant to purchase 29,500 shares of Contineum's Class A common stock. Additionally, she has entered into the company's standard indemnification agreement for board members.
Contineum Therapeutics, a Delaware-incorporated pharmaceutical company headquartered at 10578 Science Center Drive, Suite 200, San Diego, California, focuses on the development of pharmaceutical preparations. With Boyce's appointment, the company's Class I directors now include Boyce, Mr. Ignelzi, and Ms. Ware.
The information provided here is based on a recent SEC filing by the company.
In other recent news, Contineum Therapeutics has been making significant strides in its operations. The company announced the appointment of Troy Ignelzi as an independent member of its Board of Directors, a move expected to contribute significantly to Contineum's strategic growth. Ignelzi, a seasoned executive with a strong track record in the biotechnology sector, is expected to bring valuable financial leadership to the company.
Furthermore, Contineum Therapeutics is progressing with its pipeline, including the development of PIPE-791 and PIPE-307, in collaboration with Johnson & Johnson (NYSE:JNJ) Innovative Medicines. These developments have drawn the attention of several analyst firms. Stifel initiated coverage on Contineum with a Buy rating, highlighting the potential of PIPE-791. Similarly, Morgan Stanley started coverage with an Overweight rating and a price target of $25.00, while RBC Capital initiated coverage with an Outperform rating and a price target of $30.00, citing the company's long-term potential.
These are recent developments, and while they reflect optimism from various analysts and the company's management, they also underscore the inherent risks and uncertainties in drug development. As such, the success of Contineum Therapeutics' drug candidates is not guaranteed.
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