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Climb Bio, Inc. (NASDAQ:CLYM), a clinical-stage biotech company with a market capitalization of $81 million, announced the appointment of Cindy Driscoll as Senior Vice President, Finance, effective June 17, 2025. According to InvestingPro data, the company maintains a strong liquidity position with more cash than debt on its balance sheet. The company’s Board of Directors has designated Driscoll as the principal financial officer and principal accounting officer.
Driscoll, 59, previously served as Senior Vice President of Finance at hC Bioscience, Inc. from September 2023 to March 2025. Prior to that, she held the same position at Magenta Therapeutics (NASDAQ:DNTH), Inc. from June 2017 to September 2023, and was Vice President, Finance at Tokai Pharmaceuticals, Inc. from 2011 to 2017.
According to the SEC filing, Driscoll will receive an annual base salary of $355,000 and will be eligible for an annual discretionary bonus of up to 35% of her base salary. This appointment comes at a crucial time as InvestingPro analysis indicates the company’s robust financial position with a current ratio of 14.25, though analysts do not expect profitability this year. The Board has granted her a stock option to purchase 200,000 shares of the company’s common stock, which will vest 25% after one year and the remainder in 36 equal monthly installments thereafter.
The company also disclosed that Emily Pimblett, Senior Vice President, Finance and Chief Accounting Officer, notified Climb Bio of her intention to resign effective June 30, 2025. As of Driscoll’s appointment, Pimblett has ceased to serve as the principal accounting officer.
With Driscoll’s appointment, Aoife Brennan, the company’s President and Chief Executive Officer, will no longer serve as interim principal financial officer but continues as principal executive officer.
This information was disclosed in an 8-K filing with the Securities and Exchange Commission. The appointment comes amid challenging market conditions, with CLYM’s stock price down 83% over the past year to $1.23, though InvestingPro analysis suggests the stock is currently undervalued. Subscribers can access 5 additional ProTips and detailed financial metrics for CLYM.
In other recent news, Climb Bio has announced the appointment of Edgar D. Charles, M.D., MSc as Chief Medical (TASE:BLWV) Officer and Cindy J. Driscoll, MBA as Senior Vice President of Finance. These appointments bring significant experience to the company, with Dr. Charles having a background in immunology-focused pharmaceutical development and Driscoll in biotechnology finance. Oppenheimer analysts have initiated coverage on Climb Bio with an Outperform rating, setting a price target of $10, highlighting optimism for the company’s lead candidate, IV budoprutug. Additionally, BTIG analysts have started coverage with a Buy rating and a $7 target, noting the potential of Climb Bio’s therapeutic candidates in treating various immunoglobulin G-mediated disorders. The company is also advancing its pipeline with the anti-APRIL antibody CLYM116, expected to enter clinical trials for IgA nephropathy in early 2026. Climb Bio’s financial position appears robust, with a cash runway through 2027 estimated at around $180 million. In governance updates, Climb Bio has expanded its board of directors, adding Alexander (Bo) Cumbo and Kimberlee (Kim) Drapkin, while two members have departed without any disagreements cited. These developments reflect Climb Bio’s strategic efforts to strengthen its leadership and advance its therapeutic pipeline.
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