OvaScience Inc (NASDAQ:OVAS), a global fertility company focused on the discovery, development and commercialization of new treatment options, announced thatArthur Tzianabos, Ph.D., has stepped down as President and Chief Scientific Officer to assume the role of Chief Executive Officer at an early stage biotechnology company. In order to facilitate an orderly transition, Dr. Tzianabos will consult for the Company until the end of the year. James D. Luterman, Ph.D., OvaScience’s Vice President, Research & Development, has been appointed the role of Senior Vice President, Research & Development and will report directly to Michelle Dipp, M.D., Ph.D., Executive Chair and Chief Executive Officer ofOvaScience.
“We thank Arthur for his contributions to OvaScience that resulted in the design and progression of three important treatments for women and families facing infertility, including the AUGMENT treatment, which is commercially available in select international regions,” said Michelle Dipp, M.D., Ph.D., Executive Chair and Chief Executive Officer of OvaScience. “Looking ahead, OvaScience is focused on building out our commercial infrastructure to support the introduction of our treatments to market. With the recent appointments of Chief Executive Officer-elect Dr. Harald Stock and Chief Operating Officer Paul Chapman, we are well positioned to support this effort and to expand patient access to our important treatments.”
Dr. Dipp commented further, “We are pleased to recognize Jim’s strong leadership with this appointment. He has played a fundamental role in leading OvaScience’s research and development operations over the past two years.”
James D. Luterman, Ph.D., has been with OvaScience since January 2014 and most recently has served as Vice President, Research & Development. He brings over 20 years of industry experience to the Company. Prior toOvaScience, Dr. Luterman served in various positions at Shire Human Genetic Therapies, including Early Development Team Leader and Senior Director Strategic Planning and Program Management. He also worked atBiogen and Decision Resources Group. He holds a B.A. in Biology and Psychology from Bucknell University and a Ph.D. in Behavioral and Neural Sciences from Rutgers, the State University of New Jersey. Dr. Luterman was a postdoctoral fellow at Mount Sinai School of Medicine. (Original Source)
Shares of OvaScience closed yesterday at $9.27, down $0.44 or -4.53%. OVAS has a 1-year high of $39.29 and a 1-year low of $4.53. The stock’s 50-day moving average is $7.37 and its 200-day moving average is $9.95.
On the ratings front, OvaScience has been the subject of a number of recent research reports. In a report issued on March 24, Credit Suisse analyst Kennen MacKay maintained a Sell rating on OVAS, with a price target of $4, which reflects a potential downside of -56.9% from last closing price. Separately, on February 16, H.C. Wainwright’s Andrew Fein maintained a Buy rating on the stock and has a price target of $15.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Kennen MacKay and Andrew Fein have a total average return of -9.7% and 1.9% respectively. MacKay has a success rate of 18.8% and is ranked #3303 out of 3775 analysts, while Fein has a success rate of 43.0% and is ranked #1261.
OvaScience, Inc. is a life sciences company, which focuses on the discovery, development and commercialization of proprietary products to improve the treatment of female infertility. It also develops vitro fertilization (IVF) technologies. The company has two product candidates in development: OvaTureSM, creates mature fertilizable egg precursor cells without hormone injections and AUGMENTSM, which improves egg and vitro fertilization quality. OvaScience was founded by Rich H. Aldrich, Michelle Dipp, Jonathan L. Tilly and Christoph H. Westphal on April 5, 2011 and is headquartered in Cambridge, MA.