Gold prices near 3-week lows as stronger dollar, trade progress weigh
HENDERSON, Nev. - Zura Bio Limited (NASDAQ:ZURA) announced Tuesday that Eric Hyllengren will become its new Chief Financial Officer on July 7, 2025. Hyllengren will replace current CFO Verender Badial, who will remain with the company as a non-executive employee through July 31 to assist with the transition. The leadership change comes as the clinical-stage biotech company faces significant market challenges, with its stock down over 70% in the past year according to InvestingPro data.
Hyllengren brings more than 20 years of financial leadership experience in life sciences and biotechnology to the clinical-stage immunology company. He most recently served as Chief Operating Officer and Chief Financial Officer at Atara Biotherapeutics, where he oversaw strategic finance, capital markets, operational planning, and other key business functions. His expertise will be crucial as Zura Bio maintains a strong liquidity position with a current ratio of 8.14, though InvestingPro analysis indicates the company is rapidly burning through its cash reserves.
Prior to Atara, Hyllengren spent 15 years at Amgen in various roles spanning corporate finance, investor relations, business development, and alliance management.
"His broad financial expertise, combined with deep sector experience, makes him a strong strategic partner," said Robert Lisicki, Chief Executive Officer of Zura Bio, in a press release statement.
Badial, who joined Zura Bio in March 2023 during its business combination with JATT Acquisition Corporation, helped develop the company’s financial systems and participated in capital-raising efforts that supported its early growth.
Zura Bio is developing dual-pathway antibodies for autoimmune and inflammatory diseases. The company’s lead product candidate, tibulizumab, is currently in Phase 2 clinical studies for systemic sclerosis and hidradenitis suppurativa. Two additional product candidates have completed Phase 1/1b studies. With a market capitalization of approximately $65 million and trading below its book value at a Price/Book ratio of 0.47, InvestingPro analysis suggests the stock may be undervalued despite its development-stage status and current market challenges.
In other recent news, Zura Bio Ltd reported financial results for the fourth quarter and full-year 2024, showing a net loss of $0.15 per share, which was narrower than analysts’ projections of a $0.19 per share loss. The company incurred $9.2 million in research and development expenses and $6.5 million in selling, general, and administrative expenses, differing from H.C. Wainwright’s estimates. The firm adjusted its 12-month price target for Zura Bio to $3.00, down from $5.00, while maintaining a Neutral rating. Meanwhile, Zura Bio has initiated a global Phase 2 clinical trial named TibuSHIELD to evaluate tibulizumab for treating hidradenitis suppurativa. This study will involve approximately 180 participants across multiple countries, with results expected in the third quarter of 2026. In corporate governance, Zura Bio’s shareholders approved the election of nine directors to the board and ratified WithumSmith+Brown, PC as the independent auditor for the fiscal year ending December 31, 2025. These developments reflect the company’s ongoing efforts in research and governance as it navigates the biotech sector’s challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.