Array BioPharma Inc. (NASDAQ: ARRY) announced that Francis Bullock, Ph.D., and Kevin Koch, Ph.D., have decided not to stand for reelection to its Board of Directors and that David Snitman, Ph.D., intends to resign from the Board of Directors. Each of the directors will be leaving the Board effective following Array’s Annual Meeting of Stockholders to be held on October 24, 2012. Dr. Koch and Dr. Snitman will continue their leadership roles on Array’s executive team, with Dr. Koch continuing to serve as President and Chief Scientific Officer and Dr. Snitman continuing to serve as Chief Operating Officer and Vice President of Business Development. Dr. Bullock decided not to stand for reelection so that he could devote more time to his other personal and professional responsibilities. A search is underway to add independent directors with industry knowledge, skills and expertise to guide Array in achieving its goal of becoming a commercial-stage biopharmaceutical company.
“As founding members of our Board, we thank Dr. Bullock, Dr. Koch and Dr. Snitman for their exceptional leadership, expertise and contributions,” said Kyle Lefkoff, Chairman of Array BioPharma. “Array has grown from a drug discovery and early-stage development company to a late-stage clinical development company with a deep pipeline of programs. We intend to add independent directors who have clinical development and/or commercialization expertise in the cancer therapeutic area to help guide us as we bring our pipeline of products to the market.”
Dr. Koch added, “I am proud to have founded Array and to have worked with Array’s other Board members over the years. We have established a track record of producing high quality drug candidates, advancing 18 drug candidates into human clinical trials, 10 of which are in Phase 2. Array was built on exceptional science and a culture of inventing great molecules, fueled by the passion and skill which our people demonstrate every day. I am confident that exceptional science will continue to guide us through our evolution, and excited to see the impact our discoveries will have for patients.”
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts