Interim | Jotup

Chromocell Names Frank Knuettel as Chief Executive Officer, Removing Interim Status Held Since July 2023

Retrieved on:

Monday, March 18, 2024

FREEHOLD, N.J., March 18, 2024 (GLOBE NEWSWIRE) -- Chromocell Therapeutics Corp. (“Chromocell”, or the “Company”), (NYSE American: CHRO), a pioneer in the development of non-opioid pain treatment therapeutics, today announced that its interim CEO Frank Knuettel, has been appointed as the Company’s permanent CEO.

Key Points:

FREEHOLD, N.J., March 18, 2024 (GLOBE NEWSWIRE) -- Chromocell Therapeutics Corp. (“Chromocell”, or the “Company”), (NYSE American: CHRO), a pioneer in the development of non-opioid pain treatment therapeutics, today announced that its interim CEO Frank Knuettel, has been appointed as the Company’s permanent CEO.
“I’m grateful to our board of directors and Chromocell’s investors for their support over the past seven months and for the confidence they have shown in my ability to lead the Company,” said Frank Knuettel, CEO of Chromocell.
“I look forward to continuing to work with them and leading the effort to push forward our announced clinical and pre-clinical programs and developing additional programs based on our proprietary non-opioid pain therapy compound.”
”Since being appointed Interim CEO, Frank has established himself as a goal-oriented and pragmatic leader,” added Todd Davis, Chairman of the Board of Directors for the Company.
“The Board is pleased to remove the “interim” title and believes Frank has the experience, knowledge, and strategic perspective to build our current programs, expand our portfolio of non-opioid pain treatment therapies, and seek suitable monetization of certain programs at the appropriate times.”
Mr. Knuettel was previously appointed Interim CEO in July 2023, while currently serving as the Company’s CFO, a role he will continue to fill for the near future.

Eightco announces Paul Vassilakos as Executive Chairman and Chief Executive Officer and Certain Balance Sheet Improvements

Retrieved on:

Monday, March 18, 2024

Environment, CFO, Executive, Sale, Interim

Easton, PA, March 18, 2024 (GLOBE NEWSWIRE) -- Eightco Holdings Inc. (NASDAQ: OCTO) (the “Company” or “Eightco”) today announced that Paul N. Vassilakos has been named as the Company’s Executive Chairman and Chief Executive Officer.

Key Points:

Easton, PA, March 18, 2024 (GLOBE NEWSWIRE) -- Eightco Holdings Inc. (NASDAQ: OCTO) (the “Company” or “Eightco”) today announced that Paul N. Vassilakos has been named as the Company’s Executive Chairman and Chief Executive Officer.
Kevin O’Donnell, who served as the Company’s Executive Chairman since October 2021 and Interim Chief Executive Officer for the last month, will remain a member of the Board of Directors (the “Board”).
Brian McFadden, a member of the Company’s Board who had previously served as the Company’s Chief Executive Officer, will be resigning from the Board.
“We feel Paul is the right leader for Eightco,” said Kevin O’Donnell, Eightco’s former Executive Chairman and Interim Chief Executive Officer.

JOANN Enters into Agreement to Reduce Debt and Receive $132 Million in New Capital and Related Financial Accommodations with Strong Support of Key Financial and Industry Stakeholders

Retrieved on:

Monday, March 18, 2024

Growth, Lazard, Security (finance), United States bankruptcy court, Bankruptcy, ABL, Creativity, Interim, Latham & Watkins, TSA, FILO

HUDSON, Ohio, March 18, 2024 (GLOBE NEWSWIRE) -- JOANN Inc. (NASDAQ: JOAN) (“JOANN” or the “Company”), the nation’s category leader in sewing and fabrics with one of the largest arts and crafts offerings, today announced that it has entered into a Transaction Support Agreement (“TSA” or “Agreement”) with a majority of its financial stakeholders and additional industry financing parties to strengthen the Company’s financial position. In connection with the TSA, the Company has received commitments for approximately $132 million in new financing and related financial accommodations and expects to reduce funded debt on its balance sheet by approximately $505 million. The parties have also agreed to a six-month extension of the Company’s existing ABL and FILO credit facilities, effective upon the Company’s emergence from the court-supervised process. Under the TSA and related transaction documents, all obligations to employees, vendors, landlords, and other trade creditors will be paid or otherwise satisfied in full and honored in the ordinary course of business.

Key Points:

In connection with the TSA, the Company has received commitments for approximately $132 million in new financing and related financial accommodations and expects to reduce funded debt on its balance sheet by approximately $505 million.
We appreciate the support from our financial and industry stakeholders in this agreement, and their confidence in our ability to continue driving positive business change.
With the significant support of the Company’s financial stakeholders, JOANN expects to complete this process on an expedited basis, as early as late April 2024.
Gibson Dunn & Crutcher LLP is serving as legal counsel to certain of the Company’s term lenders, with Lazard serving as financial advisor.

JOANN Enters into Agreement to Reduce Debt and Receive $132 Million in New Capital and Related Financial Accommodations with Strong Support of Key Financial and Industry Stakeholders

Retrieved on:

Monday, March 18, 2024

Growth, Lazard, Security (finance), United States bankruptcy court, Bankruptcy, ABL, Creativity, Interim, Latham & Watkins, TSA, FILO

HUDSON, Ohio, March 18, 2024 (GLOBE NEWSWIRE) -- JOANN Inc. (NASDAQ: JOAN) (“JOANN” or the “Company”), the nation’s category leader in sewing and fabrics with one of the largest arts and crafts offerings, today announced that it has entered into a Transaction Support Agreement (“TSA” or “Agreement”) with a majority of its financial stakeholders and additional industry financing parties to strengthen the Company’s financial position. In connection with the TSA, the Company has received commitments for approximately $132 million in new financing and related financial accommodations and expects to reduce funded debt on its balance sheet by approximately $505 million. The parties have also agreed to a six-month extension of the Company’s existing ABL and FILO credit facilities, effective upon the Company’s emergence from the court-supervised process. Under the TSA and related transaction documents, all obligations to employees, vendors, landlords, and other trade creditors will be paid or otherwise satisfied in full and honored in the ordinary course of business.

Key Points:

In connection with the TSA, the Company has received commitments for approximately $132 million in new financing and related financial accommodations and expects to reduce funded debt on its balance sheet by approximately $505 million.
We appreciate the support from our financial and industry stakeholders in this agreement, and their confidence in our ability to continue driving positive business change.
With the significant support of the Company’s financial stakeholders, JOANN expects to complete this process on an expedited basis, as early as late April 2024.
Gibson Dunn & Crutcher LLP is serving as legal counsel to certain of the Company’s term lenders, with Lazard serving as financial advisor.

Fulcrum Therapeutics Appoints Patrick Horn M.D., Ph.D., as Chief Medical Officer

Retrieved on:

Monday, March 18, 2024

CAMBRIDGE, Mass., March 18, 2024 (GLOBE NEWSWIRE) -- Fulcrum Therapeutics, Inc.® (Fulcrum) (Nasdaq: FULC), a clinical-stage biopharmaceutical company focused on developing small molecules to improve the lives of patients with genetically defined rare diseases, today announced the appointment of Patrick Horn, M.D., Ph.D., as chief medical officer, effective immediately. Dr. Horn is a seasoned executive with over 20 years of end-to-end drug development experience spanning multiple therapeutic areas, with an emphasis on rare diseases, across both large pharmaceutical and biotech companies. Interim chief medical officer, Iain Fraser, MBChB, DPhil, will continue to serve on Fulcrum’s executive leadership team as SVP of early development. Together, Drs. Horn and Fraser will be responsible for leading clinical development and overseeing regulatory strategy and execution.

Key Points:

Interim chief medical officer, Iain Fraser, MBChB, DPhil, will continue to serve on Fulcrum’s executive leadership team as SVP of early development.
Horn and Fraser will be responsible for leading clinical development and overseeing regulatory strategy and execution.
His most recent role was as the Chief Medical Officer at HemoShear Therapeutics, specializing in rare metabolic diseases.
Prior to transitioning to industry, Dr. Horn was a practicing pediatrician at major academic institutions in Chicago.

Freddie Mac Announces Michael T. Hutchins as Interim CEO

Retrieved on:

Friday, March 15, 2024

Consumer, UBS, Salomon Brothers, Senior, Capital market, Housing, FMCC, Interim, OTCQB, Freddie Mac, Management

MCLEAN, Va., March 15, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced that the company has appointed President Michael T. Hutchins to the additional role of Interim Chief Executive Officer (CEO) as the company continues its search for a permanent CEO.

Key Points:

MCLEAN, Va., March 15, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced that the company has appointed President Michael T. Hutchins to the additional role of Interim Chief Executive Officer (CEO) as the company continues its search for a permanent CEO.
Hutchins was named President of Freddie Mac in 2020 and is a member of the company's Senior Operating Committee.
He will continue serving as President and will take on the role of Interim CEO and Board member effective March 16, following the previously announced departure of CEO Michael J. DeVito, who will step down on March 15.
“Mike Hutchins is a proven leader who brings a deep understanding of every aspect of Freddie Mac to the role of Interim CEO,” said Lance Drummond, non-executive Chair of Freddie Mac’s Board of Directors.

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Brooge Energy Limited - BROG

Retrieved on:

Friday, March 15, 2024

Order, Prior, Ext, Acquisition, Sale, LLP, News, Complaint, Fraud, Pomerantz, Interim, Action Replay, Court, Cryptocurrency

NEW YORK, March 15, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Brooge Energy Limited (“Brooge” or the “Company”) (NASDAQ: BROG).

Key Points:

NEW YORK, March 15, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Brooge Energy Limited (“Brooge” or the “Company”) (NASDAQ: BROG).
Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Brooge and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.

Larimar Therapeutics Reports Fourth Quarter and Full Year 2023 Operating and Financial Results and Provides Update on Nomlabofusp Development

Retrieved on:

Thursday, March 14, 2024

Research, Database, Gene expression, Disease, Patient, Accounting, OLE, Insurance, Ataxia, Clinical trial, Skin, Therapy, Safety, Pharmacokinetics, Interim, FA, FDA, BLA, Pharmaceutical industry

BALA CYNWYD, Pa., March 14, 2024 (GLOBE NEWSWIRE) -- Larimar Therapeutics, Inc. (“Larimar”) (Nasdaq: LRMR), a clinical-stage biotechnology company focused on developing treatments for complex rare diseases, today reported its fourth quarter and full year 2023 operating and financial results.

Key Points:

BALA CYNWYD, Pa., March 14, 2024 (GLOBE NEWSWIRE) -- Larimar Therapeutics, Inc. (“Larimar”) (Nasdaq: LRMR), a clinical-stage biotechnology company focused on developing treatments for complex rare diseases, today reported its fourth quarter and full year 2023 operating and financial results.
Nomlabofusp was generally well-tolerated and demonstrated dose-dependent increases in skin and buccal cell frataxin levels.
Research and development expenses for the fourth quarter of 2023 were $10.6 million compared to $7.2 million for the fourth quarter of 2022.
General and administrative expenses for the fourth quarter of 2023 were $3.5 million compared to $3.2 million for the fourth quarter of 2022.

Richard Sadowsky Appointed as Interim CEO; Kurt Lageschulte Returns to the Board of Directors

Retrieved on:

Thursday, March 14, 2024

Advisory board, Recycling, ID4, History, Portfolio manager, Interim, OTCQB, Broadbill

Mr. Sadowsky is a New York-based lawyer and business consultant with four decades of experience in complex transactions and investment banking.

Key Points:

Mr. Sadowsky is a New York-based lawyer and business consultant with four decades of experience in complex transactions and investment banking.
The Company is also pleased to announce the return of Kurt Lageschulte to RecycLiCo’s Board of Directors.
He served on the RecycLiCo Board from 2012 - 2021 and has been serving on its Advisory Board since that time.
Kurt Lageschulte is someone I know to be a creative and effective investor and fund raiser and all of us on the Board are excited at his return.”

GRI Bio Announces Notice of Allowance for Canadian Patent Covering Proprietary Natural Killer T (NKT) Cell Modulators

Retrieved on:

Thursday, March 14, 2024

Retinoic acid, Patient, CIPO, Doctor of Philosophy, Idiopathic pulmonary fibrosis, GRI, IPF, RAR, Treatment, Oxygen, Patent, Interim, NKT, Idiopathic disease, Liver, Movement, Natural killer T cell, Pharmaceutical industry

LA JOLLA, CA, March 14, 2024 (GLOBE NEWSWIRE) -- GRI Bio, Inc. (NASDAQ: GRI) (“GRI Bio” or the “Company”), a biotechnology company advancing an innovative pipeline of Natural Killer T (NKT) cell modulators for the treatment of inflammatory, fibrotic and autoimmune diseases, today announced that the Canadian Intellectual Property Office (CIPO) has issued a notice of allowance for Patent Application No. 3,007,970 titled, "Prevention and Treatment of Inflammatory Conditions." A patent from the recently allowed application is expected to be issued in the coming months.

Key Points:

A patent from the recently allowed application is expected to be issued in the coming months.
“We have remained committed to bolstering our intellectual property protection across our innovative pipeline of NKT cell modulators.
IPF is a rare chronic progressive pulmonary disease with abnormal scarring of the lung blocking the movement of oxygen into the bloodstream.
For more information about the Company’s innovative pipeline of NKT cell regulators for the treatment of inflammatory, fibrotic and autoimmune diseases, visit gribio.com .