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HOLLISTON, Mass. - Harvard Bioscience, Inc. (NASDAQ:HBIO) announced Tuesday the appointment of Stephen DeNelsky to its Board of Directors, effective September 5, 2025. DeNelsky will also serve on the Board’s Nominating and Governance Committee. The appointment comes as the company, currently valued at $20.24 million, faces significant market challenges, with its stock down over 78% year-to-date according to InvestingPro data.
DeNelsky brings 30 years of experience in research, analysis, and valuation of public and private equities in the healthcare industry. He currently serves as Managing Director at Oaktree Capital Management and has previously held senior positions at Marathon Asset Management and Life Sciences Alternative Funding. His appointment could prove crucial as InvestingPro analysis indicates the company is expected to return to profitability this year, despite current challenges.
"I’m honored to join the Board and look forward to contributing to thoughtful governance and long-term value creation at Harvard Bioscience," DeNelsky said, according to the company’s press release.
DeNelsky’s background spans major healthcare sub-sectors including life sciences, pharmaceuticals, devices and services. He currently serves on the board of Visioncare Inc. and previously served on the boards of Integrated Diagnostics and AMICAS, Inc.
John Duke, President & CEO of Harvard Bioscience, said DeNelsky’s knowledge across the company’s operational verticals and expertise in financial strategy for life sciences companies would be valuable as the company moves forward.
DeNelsky holds a B.A. in Economics from the American University and an M.B.A. from the University of Maryland.
Harvard Bioscience develops, manufactures and sells technologies, products and services for life science applications, including research, drug discovery, bio-production and preclinical testing for pharmaceutical development. While the company maintains a solid gross profit margin of 57%, InvestingPro analysis reveals additional insights about the company’s valuation and future prospects in its comprehensive Pro Research Report, available to subscribers along with real-time financial metrics and expert analysis.
In other recent news, Harvard Bioscience reported its Q2 2025 earnings, which showed mixed results. The company recorded a revenue of $20.5 million, which was below the analysts’ forecast of $21.4 million. Additionally, the earnings per share were -$0.01, missing the expected -$0.005. Meanwhile, Harvard Bioscience has entered into a retention agreement with its Interim Chief Financial Officer, Mark Frost. This agreement includes a $100,000 cash bonus contingent upon his continued employment through the refinancing of the company’s existing term loan and senior revolving credit facility by March 15, 2026. The retention bonus replaces a previous $50,000 bonus from an earlier offer letter. These developments highlight ongoing strategic initiatives and financial adjustments within the company.
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