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BRIDGEWATER, N.J. - Tharimmune, Inc. (NASDAQ:THAR), a micro-cap biotechnology company with a market capitalization of $3.51 million, has appointed Sireesh Appajosyula as Chief Executive Officer, Vincent LoPriore as Executive Chairman, and James Gordon Liddy to its Board of Directors, the clinical-stage biotechnology company announced Tuesday. The leadership changes come as the company’s stock has declined 57% over the past year, according to InvestingPro data.
Appajosyula, who previously served as Chief Operating Officer since July 2023 and board member since July 2021, assumed the CEO role this month. His background includes leadership positions at companies including Salix Pharmaceuticals, Amgen, and Sanofi. The appointment comes at a crucial time for Tharimmune, which currently holds more cash than debt on its balance sheet despite an overall weak financial health score, as revealed by InvestingPro analysis.
LoPriore, who joined Tharimmune’s board in April, brings over 30 years of investment banking experience. He currently serves as a Partner at President Street Global, LLC and as investment manager of the Gravitas Capital LP Fund.
Liddy, a retired U.S. Navy SEAL Commander, adds national security expertise to the board. He previously served as Senior Advisor to the Director for Strategy, Policy and Initiatives for the Office of the Assistant Secretary of Defense for Special Operations and Low Intensity Conflict.
Tharimmune is developing TH104, a buccal film formulation designed to deliver an opioid antagonist for the temporary prophylaxis of respiratory and nervous system depression in military personnel and chemical incident responders who may be exposed to high-potency opioids.
The company is also advancing other indications for TH104 and developing additional therapeutic candidates for immunology and inflammation conditions.
The information in this article is based on a company press release statement.
In other recent news, Tharimmune, Inc. reported significant developments, including leadership changes and advancements in its drug pipeline. The company appointed Sireesh Appajosyula as the new CEO, replacing Randy Milby, who stepped down from his roles due to personal reasons. Additionally, Vincent LoPriore has been appointed as the Executive Chairman of the Board, succeeding Milby in this role as well. Tharimmune also expanded its Board of Directors by adding Clay Kahler and Gary Stetz, enhancing its governance structure as it continues to grow.
In terms of drug development, Tharimmune announced promising results from its Phase 1 study of TH104, a drug designed for opioid exposure prophylaxis. The study indicated that TH104, a buccal film formulation of nalmefene, has a distinct metabolic profile and comparable safety to its intravenous counterpart. The U.S. Food and Drug Administration has provided positive feedback, suggesting that Tharimmune may submit a New Drug Application for TH104 without additional clinical trials. This development is part of the company’s broader strategy to address unmet medical needs in various therapeutic areas.
These updates reflect Tharimmune’s ongoing efforts to strengthen its leadership and advance its clinical programs. The company’s recent executive appointments and board expansion align with its strategic focus on growth and innovation in the pharmaceutical industry.
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