Three members of the company’s Board, Solveig Hellebust, Jean Pierre Bizzari and Thomas Ramdahl, has decided to step down from the Board with immediate effect.
Following the decisions to discontinue the PARADIGME study for Betalutin, restructure the company and appoint Carnegie Investment Bank to explore strategic options, the three members have taken this decision.
The review is expected to run into Q4 2022
As previously announced in a press release a strategic exercise led by Carnegie has been initiated with the aim of optimizing shareholder value, following the slow recruitment and subsequent disappointing data from the PARADIGME clinical trial, states the company. “The decision by these Board members to relinquish their Board positions following the downsizing of the company will support the preservation of financial resources during this strategic process while retaining the necessary personnel needed to maximize the chances of a successful conclusion,” states the company in a press release.
As stated in the company’s recent Q2 results presentation the review is expected to run into Q4 2022.