Hello guys -
So I got a message back from Noelle, see below:
Good afternoon,
Dan’s decision to resign was a personal decision and has no reflection on our clinical programs, research developments or financial progress. He is leaving the company in a strong position both financially and operationally. Moving forward, our board and management team are dedicated to continuing to aggressively pursue the same mission: optimize and expand our Lm Technology pipeline, and leverage it in ever-expanding ways to innovate targeted cancer immunotherapies.
We are at an exciting time in terms of our clinical research pipeline; Advaxis remains focused on exploring further applications of Lm technology, and growing our scientific and intellectual property assets. We have a strong, talented and dedicated management team. We are fortunate to have a strong interim leader in Tony Lombardo, who has significant experience leading publicly traded companies and creating value. He was President and CEO of E-Z-EM Inc., where his leadership transformed the company in eight years to a value of approximately $450 million, up from a market value of approximately $10 million at the time that he joined E-Z-EM. He led the acquisition of E-Z-EM to Bracco Diagnostics for more than $241 million, where he then oversaw business operations for six years as the Chief Operating Officer.
I know that is has been a tough wait for news since Dan has resigned, but the silence has been planned. We will be attending the fall financial conferences and we plan to communicate the vision of the company at that time. Advaxis has purposefully eliminated unnecessary press releases to focus on what is meaningful. When there is something of significance to say we will issue a PR.
The board is in the process of a search to find a strong leader who will continue to drive the company forward through its next phase of growth. The next chief executive will have the leadership skills and vision to continue to grow the company, and will partner closely with the management team and board.
Please let me know if you have additional questions.
Best,
Noelle
