Marc Faerber is not out (he is the Corp. controller now); he is just being replaced with someone that will sit atop the financial throne there. I realize the AMBS did not violate any SEC laws and everything will be fine as long as they file the 10k by mid April.
However, in regards to the upcoming Uplisting; I just dont think drawing any attention to extending the 10k filing and keeping March Faerber in control there have been prudent (just wish the 10-K was filed on time and would have been a non issue) as you need to build confidence with institutions that you are capable of handling these responsibilities properly.
Lastly, I cant wait until an IND is filed, Orphan Drug designation is reached, Eltoprazine trials are restarted, MANF or LymPro data is realeased (the week could have definitely started alot better here and its a long time coming).
Amarantus Appoints Robert Farrell, J.D. as Chief Financial Officer
GlobeNewswire
Amarantus BioScience Holdings, Inc. 50 minutes ago
SAN FRANCISCO, April 1, 2014 (GLOBE NEWSWIRE) -- Amarantus Bioscience Holdings, Inc. (AMBS), a biotechnology company focused on the discovery and development of novel diagnostics and therapeutics related to cell cycle dysregulation, endoplasmic reticulum stress, neurodegeneration and apoptosis, today announced the appointment of Mr. Robert Farrell, J.D. as Chief Financial Officer. Mr. Farrell brings over 20 years of healthcare, public company and CFO experience to Amarantus. Mr. Marc Faerber will continue with Amarantus in his new role as Corporate Controller and Vice President of Financial Operations.
"Amarantus is very well positioned to generate significant shareholder value through the further development and commercialization of its key assets in the months and years ahead," said Mr. Farrell, Amarantus' newly appointed Chief Financial Officer. "I am pleased to be joining now at this critical juncture as the Company prepares to uplist its common shares to a national stock exchange in 2014 as we commercialize LymPro, initiate a Phase 2B clinical trial for Eltoprazine in Parkinson's disease and prepare the MANF Program for an orphan drug designation submission. We expect 2014 to be a transformative year for Amarantus as we lay the groundwork for long-term shareholder value creation."
Mr. Farrell served as Chief Financial Officer of Titan Pharmaceuticals from 1996 to 2008, and as President and CEO from 2008 to 2010. During his tenure at Titan Mr. Farrell was responsible for all SEC filings, fund raising, financial and tax planning strategies, mergers & acquisitions, corporate partnerships, licensing transactions and financial operations, where he raised over $390M via public equity and non-dilutive financings, including seven corporate partnerships. Mr. Farrell most recently served as CFO at Sanovas, Inc. Mr. Farrell previously served as CFO, Corporate Group Vice President and General Counsel at Fresenius USA and Fresenius Medical Care where he completed 6 corporate partnership and M&A transactions totaling over $4B. Mr. Farrell also previously served as the CFO for the Institute for One World Health in San Francisco and currently serves on the Board of Directors of Prime Genomics, Inc. Mr. Farrell holds a J.D. from the University of California's Hastings School of Law.
"We are extremely pleased to add Robert Farrell to our team as we begin to build momentum towards uplisting our common shares on a national stock exchange in 2014," said Gerald E. Commissiong, President & CEO of Amarantus. "I am excited to work closely with Bob as we move our products ahead in order to maximize the value of our equity and mitigate risks going forward. Bob will bring invaluable experience to our team as we continue to build Amarantus into a world class company dedicated to bringing meaningful solutions to patients."
