BioMarin Pharmaceutical appoints Ian T. Clark to board of directors

BioMarin Pharmaceutical (TADAWUL:2070) Inc. (NASDAQ:BMRN) announced the appointment of Ian T. Clark to its board of directors, effective Friday. The company’s board increased its size from ten to eleven members in connection with the appointment. Clark will also join the board’s Audit Committee and Science and Technology Committee.

According to a statement based on a recent SEC filing, Clark is joining as an independent non-employee director and will receive standard director compensation, including retainer fees for his committee roles, as outlined in the company’s April 2025 proxy statement.

On Friday, Clark was granted restricted stock units valued at $400,000 under BioMarin’s 2017 Equity Incentive Plan, in line with the pro rata share of the 2025 annual award for non-employee directors. These shares will vest immediately prior to the company’s next regular annual meeting of stockholders, consistent with the vesting schedule for other non-employee directors.

BioMarin also plans to enter into an indemnification agreement with Clark, using the same standard form as with its other directors. The company stated that Clark’s selection was not made pursuant to any arrangement or understanding with any person, and that he has not engaged in any related party transactions requiring disclosure under SEC regulations.

This information is based on a press release statement included in BioMarin’s latest SEC filing.

In other recent news, BioMarin Pharmaceutical Inc. has completed its acquisition of Inozyme Pharma for approximately $270 million, adding the late-stage enzyme replacement therapy INZ-701 to its portfolio. This acquisition aims to enhance BioMarin’s offerings in treating ENPP1 Deficiency, a rare genetic condition. Meanwhile, BioMarin’s hemophilia A gene therapy, ROCTAVIAN, has demonstrated sustained efficacy and safety five years post-treatment, with a significant portion of participants remaining off prophylactic treatment. In terms of analyst ratings, Wolfe Research has reiterated an Outperform rating for BioMarin, citing its strong position in the PKU treatment market despite upcoming competition. Morgan Stanley (NYSE:MS) has initiated coverage with an Overweight rating, highlighting the growth of BioMarin’s Voxzogo treatment for achondroplasia. Additionally, Jefferies has maintained a Buy rating, noting BioMarin’s Citizen Petition to the FDA regarding Voxzogo’s orphan drug exclusivity. These developments reflect ongoing strategic moves and analyst confidence in BioMarin’s market position.

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