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Scienture Holdings, Inc. (NASDAQ:SCNX), a small-cap biotech company with a market capitalization of $31.7 million, amended the employment agreements for its two top executives, according to a statement released Friday based on a recent SEC filing. The company’s stock has declined over 92% in the past year, and according to InvestingPro analysis, currently trades below its Fair Value.
Effective October 1, 2025, the annual base salary for Dr. Narasimhan Mani, President and Co-Chief Executive Officer, increased from $325,000 to $400,000. Dr. Shankar Hariharan, Executive Chairman and Co-Chief Executive Officer, also saw his annual base salary rise from $175,000 to $400,000. Both salaries are subject to periodic review by the board’s compensation committee.
The amendments also update severance terms for both executives. If either executive is terminated without cause or resigns for good reason, they are now eligible to receive a severance payment equal to 24 months of their annual base salary, up from the previous 12 months. If such a termination occurs within 12 months of a change in control, the severance is set at two times the sum of their then-current annual salary, target annual incentive compensation for the year, and discretionary bonus. This is an increase from the prior 1.5 times multiple.
In addition, both Dr. Mani and Dr. Hariharan will receive continued health and life insurance contributions for 24 months following termination, doubling the previous coverage period of 12 months.
The amendments also formalize Dr. Mani’s role as President and Co-Chief Executive Officer, and Dr. Hariharan’s role as Executive Chairman and Co-Chief Executive Officer.
These changes were previously approved by the company’s compensation committee.
This information is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, Scienture Holdings Inc. has commenced commercial sales of Arbli™, the first FDA-approved oral suspension of losartan potassium, catering to patients needing alternatives to solid forms. This product enters a robust market, with U.S. sales of losartan reaching approximately $256 million annually, supported by over 71 million prescriptions. In another development, Scienture Holdings received a notice from Nasdaq about non-compliance with the minimum bid price rule, as its stock has closed below $1.00 per share for 30 consecutive days. The company has until April 13, 2026, to regain compliance by maintaining a closing bid price of at least $1.00 per share for ten consecutive days.
Additionally, Scienture Holdings has reached an agreement with Arena Investors to discharge all outstanding balances on previously issued secured convertible debentures. Under this agreement, the conversion price was amended to $2.4861 per share, and Arena Investors will convert the remaining debt into shares of common stock. Furthermore, the company has amended its bylaws to lower the quorum requirement for shareholder meetings from a majority to one-third of the voting stock. This change aims to facilitate the conduct of business at such meetings.
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