Chemomab Names Adi Mor CEO, Cuts Costs and Suspends Phase 2 SSc Trial Start
Chemomab Therapeutics replaced CEO Dale Pfost and CFO Donald Marvin effective June 1, 2023, reappointing co-founder Adi Mor as CEO and Sigal Fattal as CFO, and named Nissim Darvish Chairman. The company also said it is implementing further cost-reduction measures to extend its cash runway to the end of 2024 and is suspending initiation of a Phase 2 systemic sclerosis trial to preserve capital.
- Adi Mor appointed CEO effective June 1, 2023; her compensation will be set later and subject to shareholder approval
- Sigal Fattal appointed CFO, replacing Donald Marvin, effective June 1, 2023
- Cash runway expected to extend from mid-year 2024 to end of 2024, after the Phase 2 PSC topline data readout expected in the latter part of 2024
- Former CEO Dale Pfost will receive 12 months of base salary in cash, accelerated stock option vesting and 12 months of COBRA premiums, subject to a separation agreement