Telomir Pharmaceuticals appoints new CFO

Telomir Pharmaceuticals , Inc. (NASDAQ:TELO), currently valued at $68.16 million, announced today the appointment of Alan Weichselbaum as the company’s new Chief Financial Officer, effective May 15, 2025. According to InvestingPro data, this leadership change comes as the company faces financial challenges, with the stock down nearly 20% in the past week. This announcement follows the mutual agreement to release Michelle Yanez from her role as CFO, Treasurer, and Secretary, effective May 16, 2025.

Weichselbaum, 61, brings over three decades of experience in corporate finance, capital markets, and strategic advisory. His career highlights include serving as CFO of MIRA Pharmaceuticals, Inc., director of FinWise Bancorp (NASDAQ:FINW), and founding The Wexus Group, an outsourced CFO advisory firm. With previous senior roles on Wall Street, Weichselbaum’s expertise extends to equity analysis, hedge fund management, and CEO of a boutique brokerage firm. His appointment comes at a crucial time, as InvestingPro analysis shows the company’s financial health score at a concerning 1.08, rated as WEAK, with eight additional key insights available to subscribers.

Prior to his Wall Street tenure, Weichselbaum held positions at Philip Morris (NYSE:PM) Capital Corporation and started his career at Price Waterhouse. He is a Certified Public Accountant licensed in New York and holds an MBA in Finance from New York University. His expertise will be particularly valuable as the company approaches its next earnings report on May 28, 2025, with analysts forecasting continued challenges ahead.

Weichselbaum’s appointment is part of an employment agreement with Telomir Pharmaceuticals that includes an annual salary of $60,000 and eligibility for up to 50,000 options to purchase company common stock. The options will vest in two phases, with 25,000 vesting six months post-appointment and another 25,000 after twelve months, contingent on continued employment.

The company’s press release stated that Weichselbaum’s appointment is not based on any prior arrangement or understanding with other persons. Furthermore, there are no reported family relationships between Weichselbaum and any company officers or directors, nor any material interest in transactions requiring disclosure under Item 404(a) of Regulation S-K.

This information is based on a press release statement.

In other recent news, Telomir Pharmaceuticals announced securing a $3 million equity investment from The Bayshore Trust, its largest shareholder. This funding is part of a larger financial strategy that includes a previous $1 million investment and access to a $5 million credit line. The investment will support regulatory and development activities for Telomir-1, a drug candidate targeting rare diseases, with plans to submit an Investigational New Drug application by year-end. Additionally, Telomir is advancing Telomir-Ag2, a novel antimicrobial compound aimed at combating drug-resistant bacterial infections, which shows promise in preclinical studies. The company has also released preclinical data on Telomir-1, indicating potential benefits in reversing cellular aging and reducing tumor growth in prostate cancer models. These developments reflect Telomir’s focus on advancing its therapeutic pipeline and engaging with regulatory bodies like the FDA’s Rare Disease Endpoint Advancement Pilot Program. The company emphasizes that Telomir-1 is still in preclinical stages and has not yet been tested in humans. Telomir Pharmaceuticals is actively working on its drug development strategy, with a focus on age-related diseases and cancer, while also exploring potential partnerships in the healthcare sector.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.