BioPharmX Corp (NYSEAMERICAN: BPMX) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced that a new CEO has been appointed. Of course, the news excited investors, sending the stock screaming for the top. Today, we’ll talk about:
- The CEO appointment;
- what we’re seeing from BPMX as a result; and
- what we’ll be watching for ahead.
BPMX Announces CEO Appointment
As mentioned above, BioPharmX is having a great start to the trading session this morning after the company announced that it has appointed a new CEO. In a press release issued early this morning, the company said that it has appointed David S. Tierney, M.D. as the new CEO of the company. Anja Krammer continues to serve in her roles as president and corporate secretary for BPMX. Dr. Tierney was also appointed as a director on the board of directors.
Dr. Tierney is a talented leader in the world of healthcare with experience in both pahrmaceutical and medical device companies. He brings to the table significant experience in successfully developing and commercializing drug delivery platforms, which will be very valuable to the company. In a statement, Michael L. Hubbard, Chariman of the Board of Directors at BPMX, had the following to offer:
We look forward to having a seasoned industry veteran such as David join our team as we advance our topical dermatology clinical programs and commercialization strategies… David brings a wealth of expertise in medical science, clinical, and regulatory affairs, and in overseeing the advancement of healthcare companies from the product development phase to commercial operations.
The above statement was followed up by Dr. Tierney. Here’s what he had to say:
BioPharmX is on the threshold of an important and exciting growth phase as is evident from the company’s robust product pipeline and its lead product candidate being phase 3-ready for acne… I expect advancements in BioPharmX product development to drive increased corporate visibility and transformational changes in dermatologic pharmaceuticals. I am thrilled to have the opportunity to participate and contribute to BioPharmX’s growth prospects.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In the case of BioPharmX, the news proved to be overwhelmingly positive. After all, the company was in need of a change in leadership, and that’s exactly what it got. So, it comes as no surprise to see that excited investors are pushing the stock toward the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:46), BPMX is trading at $0.21 per share after a gain of $0.014 per share or 7.14% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on BPMX. In particular, we’re interested in following the story surrounding the company’s movements under the new leadership. Nonetheless, we’ll continue to keep an eye on the news and bring it to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!