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Genenta Science S.p.A. (NASDAQ:GNTA) announced that its shareholders approved the company’s 2024 statutory financial statements and elected three directors to the board at its annual ordinary shareholders’ meeting held virtually on April 29, 2025, according to a press release statement and recent SEC filing.
The board appointments include Dr. Francesco Galimi as a new member, joining continuing directors Armon R. Sharei, Ph.D., and Pierluigi Paracchi, who remains chairman and chief executive officer. The term of office for each of the newly appointed directors is one year, with aggregate annual directors’ compensation set at €105,000. Mr. Paracchi will receive €45,000 annually, while Dr. Galimi and Dr. Sharei will each receive €30,000.
Dr. Galimi is a physician-executive with more than 30 years of experience in healthcare research and development. He most recently served as senior vice president and chief medical officer of Adicet Bio, Inc. (NASDAQ:ACET), a clinical-stage biotechnology company currently valued at $144 million. According to InvestingPro data, Adicet maintains strong liquidity with a current ratio of 7.48 and minimal debt, though the company faces near-term profitability challenges. The stock has shown significant momentum, gaining 69% over the past six months. His previous roles include global program general manager at Amgen Inc. (NASDAQ:AMGN), head of clinical development at Onyx Pharmaceuticals Inc., and executive medical leader at the Genomic Institute of the Novartis Research Foundation. Dr. Galimi holds an M.D. and Ph.D. in Oncology from the University of Torino Medical School and completed post-doctoral research at the Salk Institute for Biological Studies.
The board met on April 30, 2025, to confirm Mr. Paracchi as chief executive officer and to allocate annual compensation to the directors.
The company’s 2024 statutory financial statements, audited by Revicom, were also approved at the shareholders’ meeting.
This information is based on a press release statement and details disclosed in a recent SEC filing.
In other recent news, Adicet Bio announced promising preliminary results from its ADI-001 therapy for lupus patients, with 60% achieving a complete renal response. The therapy showed rapid systemic disease control and a favorable safety profile in all seven patients studied. Following these results, Guggenheim raised its price target for Adicet Bio to $8.00, maintaining a Buy rating due to the positive clinical data. Additionally, Adicet Bio priced an $80 million stock offering at $1 per share, expecting to raise significant gross proceeds. The offering includes pre-funded warrants for an additional 10 million shares. Meanwhile, Citizens reiterated its Market Perform rating on Adicet Bio, reflecting a neutral stance on the company’s recent developments. The focus on allogeneic gamma delta T cell therapies continues to draw attention in the biotech sector. These recent developments highlight Adicet Bio’s ongoing efforts and achievements in autoimmune disease treatment.
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