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Pharmadrug ( (TSE:PHRX) ) just unveiled an announcement.
PharmaDrug Inc. announced the resignation of Rob Steen as CEO and from the board of directors, effective immediately. Chairman David Kideckel will assume the role of Executive Chairman and take over Steen’s responsibilities until a suitable replacement is found. The company is seeking a new CEO with biotech experience to align with its focus on cepharanthine and pharmaceutical drug development. This leadership change could impact the company’s strategic direction and its efforts in drug development, particularly in the areas of infectious diseases and rare cancers.
Spark’s Take on TSE:PHRX Stock
According to Spark, TipRanks’ AI Analyst, TSE:PHRX is a Underperform.
Pharmadrug’s overall score is significantly impacted by its weak financial performance, characterized by zero revenue, high leverage, and negative cash flows. While there is some short-term technical momentum, the lack of profitability and negative valuation metrics pose substantial risks to potential investors.
To see Spark’s full report on TSE:PHRX stock, click here.
More about Pharmadrug
PharmaDrug Inc. is a specialty pharmaceutical company that focuses on the research, development, and commercialization of controlled substances, natural medicines, and previously approved drugs. The company owns 51% of Sairiyo Therapeutics, which specializes in reformulating established natural medicines for clinical trials and regulatory approval in the US and Europe. Sairiyo is developing a patented reformulation of cepharanthine for treating infectious diseases and rare cancers. PharmaDrug also owns SecureDose Synthetics Inc., which focuses on developing synthetic formulations of existing drugs for commercialization.
Average Trading Volume: 192,421
Technical Sentiment Signal: Sell
Current Market Cap: C$1.08M
Learn more about PHRX stock on TipRanks’ Stock Analysis page.