Biotech Values

[DewDiligence]

ABEO CEO and three other directors quit for no stated reason—stock falls 41%:

https://finance.yahoo.com/news/abeona-therapeutics-announces-leadership-board-132700270.html

Abeona Therapeutics Inc., a fully-integrated leader in gene and cell therapy, today announced changes in its executive leadership and Board of Directors. João Siffert, M.D. resigned from his positions as CEO, Head of Research and Development, and Chief Medical Officer, as well as member of the Board of Directors, on September 23, 2020.

On September 27, 2020, Brian Pereira, M.D., Stefano Buono, Stephen B. Howell, M.D., George Migausky and Shawn Tomasello each announced that they had stepped down from the Board, effective immediately.

No director gave any reason for their resignation and no director indicated any disagreements with the Company.

The Company is reviewing and exploring all strategic options and alternatives focused on advancing the Company’s mission and maximizing stakeholder value, including the sale of some or all of its assets or sale of the Company.

The bottommost paragraph is amusing in light the PR in #msg-150895669 issued more than a year ago.