The clinical-stage biopharmaceutical firm Adagio Therapeutics (NASDAQ:ADGI) has misplaced ~6% within the premarket on Tuesday after the corporate introduced the resignation of its Chief Govt Officer Tillman Gerngross.
With the departure of Dr. Gerngross, Adagio’s (ADGI) board of administrators expects to nominate the corporate’s Chief Working Officer, Mr. David Hering, because the interim CEO.
A 25-year business veteran, Mr. Hering served as president, North America at Pfizer (NYSE:PFE), serving to to launch the COVID-19 vaccine developed by the U.S. pharma large, together with its German accomplice BioNTech (NASDAQ:BNTX).
“We stay up for offering additional element round this succession, in addition to enterprise updates, within the close to term,” Mr. Hering said.
Along with the CEO succession, Adagio (ADGI) additionally introduced its plans on its experimental COVID-19 drug ADG20 on Tuesday. A monoclonal antibody, ADG20, is at present present process research for the prevention and therapy of COVID-19.
The corporate intends to evaluate a 300mg dose of the experimental remedy and anticipates its evaluation to be out there in late March from a world Part 2/3 scientific trial.