Rocket Pharmaceuticals names Christopher Stevens as chief operating officer

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT), a biotechnology company currently valued at $321 million, appointed Christopher Stevens as chief operating officer on Monday. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 9.19 and holds more cash than debt on its balance sheet. The announcement was made in a press release statement and disclosed through a recent SEC filing.

Stevens, age 45, previously served as executive vice president and chief patient supply officer at Spark Therapeutics from October 2022 through July 2025. His experience at Spark included roles as head of manufacturing, asset general manager for the Hemophilia A program, and head of product strategy. Earlier in his career, Stevens held various leadership positions at GlaxoSmithKline (NYSE:GSK) and Bristol-Myers Squibb (NYSE:BMY), focusing on strategy, operations, and supply chain management. With InvestingPro analysis showing the company is quickly burning through cash, Stevens’ operational expertise could prove crucial for the company’s future development. InvestingPro subscribers have access to 10+ additional key insights about RCKT’s financial health and market position.

In connection with the appointment, Dr. Kinnari Patel transitioned from chief operating officer, president and head of R&D to president and head of R&D.

According to the executive employment agreement, Stevens will receive an initial annual base salary of $525,000 and a target annual bonus of 45% of his base salary. He is also eligible for new hire equity compensation valued at approximately $2.5 million, split equally between options to purchase Rocket Pharmaceuticals common stock and restricted stock units. One-third of these equity awards will vest on the first anniversary of the grant, with the remaining two-thirds vesting in eight quarterly increments over the following two years, contingent on continued employment.

Stevens is set to receive an additional equity award valued at $500,000 on the first Monday after his one-year anniversary, also split between options and restricted stock units. A sign-on bonus of $250,000 will be paid in a lump sum thirty days after his start date, provided he remains employed at that time.

The agreement includes provisions for severance payments and company-paid COBRA benefits in the event of certain qualifying terminations, including additional benefits in the event of a qualifying termination within twelve months following a change in control.

The company stated that Stevens has no family relationship with any executive officers or directors, and there were no arrangements or understandings with other persons related to his appointment. The stock, which has experienced a significant 71% decline over the past six months, recently showed signs of recovery with a 9% gain in the past week. Investors seeking detailed analysis can access comprehensive financial metrics and Fair Value estimates through InvestingPro’s exclusive research reports, available for over 1,400 US stocks.

All information is based on a press release and SEC filing by Rocket Pharmaceuticals.

In other recent news, Rocket Pharmaceuticals announced that it received clearance from the U.S. Food and Drug Administration for its Investigational New Drug application for RP-A701, a gene therapy candidate targeting BAG3-associated Dilated Cardiomyopathy. This development marks the company’s third clinical-stage gene therapy candidate in its cardiovascular portfolio. The company is set to begin a Phase 1 clinical trial to evaluate the safety and efficacy of the therapy. Meanwhile, Rocket Pharmaceuticals faced a downgrade from Evercore ISI, which moved its rating from Outperform to In Line and reduced the price target to $5.00 from $18.00, citing a patient death in the Danon trial as the reason. UBS also lowered its price target on Rocket Pharmaceuticals to $5.00 from $12.00, while maintaining a Buy rating, following a setback in the Danon disease program. Canaccord Genuity adjusted its price target to $11 from $34, maintaining a Buy rating, due to changes in the anticipated launch timeline for RP-A501/Danon. The company is actively working on resolving issues related to its Kresladi and RP-L102 programs, which could lead to future revenue opportunities. These recent developments have kept Rocket Pharmaceuticals in the spotlight for investors and analysts.

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