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RAMAT GAN, ISRAEL - XTL Biopharmaceuticals Ltd. (NASDAQ:XTLB) (TASE:XTLB.TA), a micro-cap company valued at $10.26 million with holdings in web data and biopharmaceutical intellectual property, announced today the appointment of Noam Band as its new Chief Executive Officer. Shlomo Shalev will maintain his role as Chairman of the Board of Directors. According to InvestingPro data, the company’s stock is currently trading near its 52-week low, suggesting potential value opportunity for investors.
Band brings a wealth of experience from his previous leadership roles, including his tenure as Chairman and CEO of Gix Internet Ltd. (TASE:GIX), and as CEO of Dotomi, which was acquired by ValueClick. He has been credited with contributing to strategic direction and corporate governance as a board advisor to 7digital Group plc until its acquisition in 2023. Band’s academic background includes an MBA and a B.A. in Economics from The Hebrew University of Jerusalem. While the company is not currently profitable, InvestingPro analysis indicates analysts expect profitability this year, making Band’s appointment particularly timely.
Shlomo Shalev expressed confidence in Band’s ability to guide XTL Biopharmaceuticals towards new opportunities and successes, highlighting his track record and deep industry expertise. The appointment is seen as a strategic move to reinforce the company’s commitment to innovation, operational excellence, and shareholder value.
XTL Biopharmaceuticals owns The Social Proxy Ltd., a web data AI company, and holds a sublicensed IP portfolio for the treatment of Lupus disease. The company’s forward-looking statements indicate a focus on strategic business development and market expansion under Band’s leadership.
These statements, however, are subject to various risks and uncertainties that could affect the company’s actual results, including its ability to receive sublicensing fees for its Hcdr1 intellectual property and the successful integration of The Social Proxy. The company has stated that its plans and intentions may change in response to future events and developments. InvestingPro data shows the company maintains a current ratio of 0.81, indicating potential short-term liquidity challenges that the new leadership will need to address. Subscribers can access over 10 additional financial health indicators and exclusive insights about XTLB’s future prospects.
The information in this article is based on a press release statement from XTL Biopharmaceuticals Ltd.
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