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ProPhase Labs , Inc. (NASDAQ:PRPH) announced the appointment of Carolina Abenante, Esq. as an independent director to its Board of Directors, effective Friday. According to a statement based on a recent SEC filing, Ms. Abenante fills an existing vacancy and will also serve as a member of the Nominating and Corporate Governance Committee and as Chair of the Compensation Committee. Her current term will expire at the company’s 2025 annual meeting of stockholders on July 18, 2025, where she has been nominated for election to serve another term through the 2026 annual meeting.
The Board has determined that Ms. Abenante is independent under the applicable rules of Nasdaq and the Securities and Exchange Commission. She also meets the independence and financial literacy requirements for committee service. The company plans to appoint her to its Audit Committee effective July 19, 2025, following the annual meeting.
Ms. Abenante, age 55, is the founder of NYIAX, Inc., a financial and advertising technology company, where she has served in various leadership roles since 2012, including Vice Chairperson, President, Chief Strategy Officer, and General Counsel. Her previous experience includes positions in corporate development, business development, and legal and policy roles at Juno Online Services, Reed Elsevier (LON:REL) Ltd, and Phorm Inc. She has also worked as a consultant and legal counsel for technology and publishing firms.
Ms. Abenante holds degrees in management, finance, law, and business administration from Seton Hall University, New York Law School, and SDA Bocconi School of Management. She is a practicing attorney and a member of the New Jersey Bar and the American Bar Association.
As compensation, Ms. Abenante will receive an annual retainer of $48,000 and will participate in the company’s Director’s Equity Plan. The company stated there are no arrangements or understandings pursuant to which she was selected as director, nor any family relationships with other directors or executive officers.
This information is based on a statement included in a press release and an SEC filing. For a comprehensive analysis of PRPH’s financial position, governance, and future prospects, investors can access the detailed InvestingPro Research Report, part of the platform’s coverage of over 1,400 US stocks.
In other recent news, ProPhase Labs has reported its first-quarter 2025 earnings, revealing an earnings per share (EPS) of -0.13, which exceeded analysts’ expectations of -0.18. However, the company faced a revenue shortfall, bringing in $1.43 million compared to the anticipated $2.45 million. Despite this, ProPhase Labs has undertaken significant operational restructuring, including reducing its workforce from 96 to 25 employees and selling its manufacturing facility. In another development, ProPhase Labs has formed a Clinical Science Advisory Board to support the clinical adoption of its BE-Smart™ molecular test for esophageal disease. This test, designed to enhance the accuracy of endoscopies, targets a market of approximately 7 million annual endoscopies in the U.S., with a potential reimbursement rate of $1,000 to $2,000 per test. Additionally, the company is exploring strategic alternatives for its Nebula Genomics subsidiary, with potential sale discussions underway. ProPhase Labs’ CEO has expressed optimism about future liquidity events and the company’s strategic direction.
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