PharmAust Limited board changes announcement

PharmAust Limited (ASX: $PAA), a clinical-stage biotechnology company, has announced the resignation of Dr Roger Aston, Mr Robert Bishop, and Dr Thomas Duthy from the Board of Directors. In addition, the Company has appointed Mr Sam Wright as Interim Chairman, Mr John Clark as Managing Director, and Mr Marcus Hughes as a Non-Executive Director.

Executive commentary on board changes

Interim Chairman Sam Wright expressed, 'We've made new additions to the Board of Directors with the drive, requisite experience and skill set that will allow for the continued development and success of PharmAust and monepantel at this pivotal stage of the Company.' Dr Roger Aston, on behalf of the departing directors, stated, 'We're passionate about the prospects of monepantel in difficult to treat Neurological disorders like MND/ALS and wish the Company every success with John Clark as the Managing Director going forward.'

Summary of PharmAust board changes announcement

PharmAust Limited (ASX: $PAA) has announced significant board changes, including the resignation of Dr Roger Aston, Mr Robert Bishop, and Dr Thomas Duthy, and the appointment of Mr Sam Wright as Interim Chairman, Mr John Clark as Managing Director, and Mr Marcus Hughes as a Non-Executive Director. The Company is finalizing the executive services agreement with Managing Director, John Clark, and plans to hold an investor webinar outlining the pathway and next steps for the Company. PharmAust is focused on repurposing monepantel for human neurodegenerative diseases and anticipates commencing enrollment in its pivotal registration adaptive Phase 2/3 clinical study in H2 CY 2024, aiming for accelerated approval with the US Food and Drug Administration in 2026.