Tharimmune expands board with two new directors

BRIDGEWATER, NJ - Tharimmune, Inc. (NASDAQ:THAR), a clinical-stage biopharmaceutical company with a market capitalization of $3.12 million, announced the addition of Clay Kahler and Gary Stetz to its Board of Directors. The company’s stock has shown recent momentum, gaining 22.8% in the past week, according to InvestingPro data. The board expansion comes as the company prepares for the departure of Leonard Mazur and Lynne Bui, M.D., who will not seek re-election at the upcoming Annual Meeting of Stockholders on June 10, 2025.

Kahler, with a background in life sciences manufacturing and clinical innovation, and Stetz, an expert in financial forensics and corporate governance, join the board as Tharimmune advances its clinical programs and focuses on growth and governance. Kahler will assume roles on the audit, nominating, and corporate governance committees, and chair the compensation committee. Stetz will serve on the compensation and audit committees and chair the nominating and corporate governance committee.

Randy Milby, Chairman of the Board of Tharimmune, expressed confidence in the new appointees, stating, "Clay’s entrepreneurial leadership and deep operational expertise, combined with Gary’s extensive financial acumen and governance experience will bring valuable insight to our Board."

Tharimmune is actively developing treatments for immune-mediated diseases and has a diverse portfolio including its lead clinical asset, TH104, aimed at respiratory and/or nervous system depression in military personnel and chemical incident responders. The company’s pipeline also features therapies for chronic pruritus in primary biliary cholangitis and autoimmune diseases, as well as a multispecific biologic platform targeting solid tumors. While InvestingPro analysis indicates the company maintains a favorable cash position relative to debt, its overall financial health score remains weak, reflecting the pre-revenue stage of its development programs.

The appointments reflect Tharimmune’s commitment to a diverse and skilled board to steer the company through upcoming clinical, regulatory, and strategic growth phases. Both Kahler and Stetz expressed eagerness to contribute to the company’s future successes. With analysts setting a $5.00 price target and the stock currently trading at $1.48, InvestingPro subscribers can access additional insights about the company’s valuation and growth prospects, along with 8 more exclusive ProTips.

This news is based on a press release statement and does not include any endorsements of claims or predictions of future performance.

In other recent news, Tharimmune, Inc. has received positive feedback from the U.S. Food and Drug Administration (FDA) regarding its drug candidate TH104. The FDA’s response suggests that no further clinical trials may be necessary before submitting a New Drug Application, allowing the company to expedite its regulatory submission strategy through the 505(b)(2) pathway. Additionally, Tharimmune has been notified by Nasdaq that it no longer meets the stockholders’ equity requirement for continued listing, with its equity reported at $1.3 million, below the $2.5 million threshold. The company has 45 days to submit a plan to regain compliance and is exploring options to address this shortfall. In corporate governance news, Tharimmune has expanded its Board of Directors by appointing Clay Kahler and Gary Stetz, increasing the board from seven to nine members. Meanwhile, Leonard Mazur and Dr. Lynne Bui have announced their retirement from the board, effective at the 2025 Annual Meeting of Stockholders. These developments come as Tharimmune continues to focus on its strategic direction and governance amidst the challenges in the pharmaceutical industry.

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