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Orgenesis Inc. (NASDAQ:ORGS) announced Monday that Ashish Nanda has resigned from its board of directors, effective immediately. The company stated that Mr. Nanda informed Orgenesis of his decision to step down on August 21. According to the company, the resignation was not due to any disagreement with Orgenesis or its management regarding company operations, policies, or practices. The departure comes as the company faces significant financial challenges, with InvestingPro data showing a 98.6% decline in stock value over the past year and a concerning current ratio of 0.07.
Orgenesis, headquartered in Germantown, Maryland, is listed on the Nasdaq Capital Market. The company expressed appreciation for Mr. Nanda’s contributions during his tenure as director.
This report is based on a statement from the company’s recent SEC filing.
In other recent news, Orgenesis Inc . announced the resignation of its Chief Financial Officer, Victor Miller, along with three directors. The company disclosed this development in a press release filed with the Securities and Exchange Commission. Mr. Miller’s departure was effective immediately, as he decided to pursue other opportunities. Orgenesis clarified that his resignation was not due to any disagreements with the company’s operations, policies, or practices. The company did not provide further details on the departure of the three directors. These changes in the company’s leadership come amid ongoing developments within Orgenesis. Investors and stakeholders will be closely monitoring how these changes may impact the company moving forward.
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