Artiva Biotherapeutics appoints new director and committee members

SAN DIEGO – Artiva Biotherapeutics, Inc. (ARTV), a biopharmaceutical company specializing in cellular immunotherapies with a current market capitalization of $135 million, has announced the appointment of Daniel Baker, Ph.D., as a new member of its Board of Directors and Clinical Strategy Committee, effective January 28, 2025.

Dr. Baker joins the board with a wealth of experience in the biotech industry, having recently served as interim Chief Development Officer at Cue Biopharma (NASDAQ:CUE), Inc., and as CEO and founder of Kira Biotech Pty Ltd. His previous 19-year tenure at Johnson & Johnson saw him lead clinical development for several major drug programs.

Alongside Dr. Baker, Laura Bessen, M.D., Brian Daniels, M.D., and Laural Stoppel, Ph.D., have been appointed to the Clinical Strategy Committee, with Diego Miralles, M.D., taking the role of chair. The committee appointments were recommended by the Nominating and Corporate Governance Committee and approved by the board.

According to the company’s filing with the SEC, Dr. Baker will receive an annual cash retainer of $40,000 for his board service and an initial stock option grant to purchase 27,500 shares of Artiva’s common stock. The appointment comes as the company’s stock trades at $5.38, having declined by 53% over the past six months. Despite this performance, analysts maintain a Strong Buy consensus with price targets ranging from $18 to $23. The options will vest over a two-year period, with one-third vested immediately and the remainder vesting monthly, contingent upon continued service. Future automatic annual grants are also outlined in the company’s Non-Employee Director Compensation Policy.

Additionally, Dr. Baker and other Clinical Strategy Committee members will receive a $7,500 annual retainer, while the committee chair will receive $15,000. These compensations are within the annual limits set by the company’s policy.

Artiva Biotherapeutics, which trades on the Nasdaq Global Market under the ticker ARTV, has emphasized that there are no undisclosed transactions involving Dr. Baker that would necessitate disclosure under SEC regulations.

This strategic reinforcement of Artiva’s leadership comes at a critical time as the company continues to advance its portfolio of cellular therapies aimed at treating cancer and other serious diseases. The appointments are part of Artiva’s ongoing efforts to enrich its governance and strategic planning capabilities. For deeper insights into Artiva’s financial health and growth prospects, InvestingPro subscribers can access comprehensive analysis including 13+ additional ProTips and detailed financial metrics in the Pro Research Report.

The information for this report was based on a recent SEC filing by Artiva Biotherapeutics.

In other recent news, Artiva Biotherapeutics reported strong earnings and revenue results, with $199.6 million in cash, cash equivalents, and short-term investments. This robust financial position is expected to fund operations through the end of 2026. The company’s board has been expanded with the appointment of industry veterans Dr. Dan Baker and Dr. Alison Moore, enhancing its operational capabilities.

Artiva’s lead program, AlloNK®, is currently undergoing clinical trials for systemic lupus erythematosus and other autoimmune indications. The company’s cost-effective and scalable manufacturing process allows it to produce enough AlloNK to treat over 1,000 autoimmune patients each year.

The recent developments have garnered positive analyst coverage. H.C. Wainwright initiated coverage with a Buy rating, aligning with the broader consensus of a "Strong Buy" from other analyst firms, including TD Cowen and Cantor Fitzgerald. Analysts highlight the promising potential of Artiva’s therapies, particularly its leading product, AlloNK.

These recent developments underline Artiva’s ongoing commitment to advancing cell therapies for autoimmune diseases.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.