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ROCHESTER, NY – Vaccinex (OTC:VCNX), Inc., a biotechnology company specializing in pharmaceutical preparations with a current market capitalization of $1.66 million, announced the immediate resignation of Bala S. Manian from its board of directors, as detailed in the company’s recent 8-K filing with the Securities and Exchange Commission.
The departure, which took place on Monday, was not due to any disputes or disagreements over the company’s operations, policies, or practices, according to the filing. The company, headquartered at 1895 Mount Hope Avenue, Rochester, New York, has not yet indicated a successor or provided details on the search for a new director.
Vaccinex, trading on the Nasdaq Capital Market under the ticker NASDAQ:VCNX, is incorporated in Delaware and operates within the pharmaceutical industry, with a focus on developing treatments and drugs.
This move comes amidst a period where corporate governance and the composition of company boards are under increasing scrutiny by investors and regulators alike. However, the company’s brief statement offered no further context for Mr. Manian’s resignation, nor did it elaborate on any upcoming changes to the board’s structure or strategic direction.
The information regarding this corporate event is based on the company’s official statement in a press release. Vaccinex has not disclosed any further information on the matter at this time.
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