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BRIDGEWATER, NJ – Tharimmune, Inc. (NASDAQ:THAR), a pharmaceutical company specializing in the development of treatments with a current market capitalization of $2.53 million, has announced the expansion of its Board of Directors and the appointment of two new members. On Monday, the company’s board increased from seven to nine members, welcoming Clay Kahler and Gary Stetz to its ranks.
The decision to appoint the new directors was made by the existing Board of Directors, reflecting the company’s commitment to broadening its expertise and governance as it navigates the pharmaceutical industry’s competitive landscape. According to InvestingPro data, the company maintains a positive cash position relative to debt, though it faces profitability challenges. The appointments are effective immediately, as stated in the company’s latest 8-K filing with the Securities and Exchange Commission.
Clay Kahler and Gary Stetz bring a wealth of experience to Tharimmune. Their backgrounds and expertise are expected to contribute significantly to the company’s strategic direction and overall governance. However, the specific details of their compensatory arrangements have not been disclosed in the filing.
Tharimmune, Inc., formerly known as Hillstream BioPharma Inc., is headquartered in Bridgewater, New Jersey, and operates under Delaware incorporation. The company is recognized for its work in pharmaceutical preparations, a sector that is both highly regulated and fiercely innovative.
The announcement comes as the company continues to make strides in its research and development efforts. Tharimmune’s focus remains on delivering novel treatments that address unmet medical needs.
Investors and industry watchers may view the expansion of the Board as a strategic move to strengthen the company’s leadership amidst the ongoing challenges and opportunities in the pharmaceutical industry.
The information regarding these corporate governance changes is based on a press release statement filed with the SEC.
In other recent news, Tharimmune, Inc. has received favorable feedback from the U.S. Food and Drug Administration (FDA) for its drug candidate TH104, allowing the company to proceed with a New Drug Application without further clinical trials. This development is crucial as TH104 is intended to provide temporary protection against respiratory and nervous system depression caused by high-potency opioids, particularly for military personnel and first responders. Additionally, Tharimmune has announced the development of HS1940, a novel cancer treatment that targets PD-1 and VEGF receptors, potentially offering enhanced options for cancer patients. The company’s EpiClick Technology is instrumental in creating these multispecific biologics. In corporate governance news, Tharimmune disclosed the upcoming retirement of board members Leonard Mazur and Dr. Lynne Bui, with the transition set for the 2025 Annual Meeting. Tharimmune also faces a compliance challenge, having received a Nasdaq non-compliance notice due to its stockholders’ equity falling below the required threshold. The company intends to submit a plan to regain compliance and maintain its Nasdaq listing. These developments underscore Tharimmune’s ongoing efforts in pharmaceutical innovation and corporate strategy.
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