Immunotherapy corporations Neoimmunetech is showing weakness on the 13th on news that Chief Executive Officer Oh Yoon-seok resigned.
As of 9:05 a.m. that day, Neoimmunetech was trading at 698 won, down 68 won (8.88%) from the previous trading day.
Neoimmunetech disclosed that on the 10th, former CEO Oh Yoon-seok resigned. The reason for the resignation is "personal reasons."
The company said, "We are well aware that there may be many voices of concern regarding the disclosure of the change of CEO," but added, "We confirmed excellent interim results in a nonhuman primate acute radiation syndrome (ARS) experiment and received positive feedback from the Biomedical Advanced Research and Development Authority (BARDA), and major research and development schedules are proceeding as planned."
Neoimmunetech plans to continue operations under an acting system with Kim Tae-woo, head of the management support division (CFO), serving as acting CEO until a new CEO is appointed. Acting CEO Kim said, "The key executives and employees who comprehensively handled major recent management issues in close consultation with the board of directors are working as usual," and added, "We will do our best to establish a stable management system."