Biodel Inc (NASDAQ:BIOD) announced the appointment of Ms. Arlene M. Morris to its board of directors.
Chairman of the Board, Dr. Ira Lieberman stated, “Arlene’s background and extensive experience in the pharmaceutical and biotechnology industries, coupled with her leadership and board experience will be a great complement to our existing board.”
Ms. Morris was recently the President and CEO of Syndax, a Boston based epigenetic company. Previously, she was the president, chief executive officer and member of the board of directors of Affymax, Inc. During her eight years at Affymax, Ms. Morris led the company through the development of OMONTYS peginesatide, a strategic collaboration with Takeda, an initial public offering, and several follow on offerings.
Prior to Affymax, Ms. Morris was the president and CEO of Clearview Projects, an advisory firm which counsels biopharmaceutical and biotechnology companies on strategic transactions. Before that, she was the senior vice president of business development at Coulter Pharmaceuticals, Inc., where she completed numerous transactions including a $1.0 billion merger between Corixa and Coulter. She was also the vice president of business development at Scios where she completed numerous transactions. Ms. Morris began her career at Johnson & Johnson as a sales representative, rising to vice president of business development.
Ms. Morris serves on the board of directors of Neovacs SA and the Medical University of South Carolina Foundation for Research and Development. She received her bachelor’s degree in biology from Carlow College.
“I am honored to join the board of Biodel. I am very excited about Biodel’s pipeline and look forward to working with the board and management team over the coming years,” said Ms. Morris.
“Arlene’s extensive leadership and operational experience will help guide us as we look to transition Biodel to a late-stage product development company over the next twelve to eighteen months,” added Dr. Errol De Souza, president and chief executive officer of Biodel. (Original Source)
Shares of Biodel closed last Friday at $1.13 . BIOD has a 1-year high of $2.51 and a 1-year low of $0.99. The stock’s 50-day moving average is $1.15 and its 200-day moving average is $1.36.
On the ratings front, Biodel has been the subject of a number of recent research reports. In a report issued on April 6, Wedbush analyst Liana Moussatos maintained a Hold rating on BIOD, with a price target of $2, which implies an upside of 77.0% from current levels. Separately, on March 23, William Blair’s John Sonnier reiterated a Buy rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Liana Moussatos and John Sonnier have a total average return of 39.3% and 21.1% respectively. Moussatos has a success rate of 55.9% and is ranked #16 out of 3604 analysts, while Sonnier has a success rate of 57.6% and is ranked #411.
Biodel Inc is a specialty biopharmaceutical company. The Company is focused on the development and commercialization of treatments for diabetes patients..