Quarterly report pursuant to Section 13 or 15(d)

Note 16 - Subsequent Events

Note 16 - Subsequent Events
9 Months Ended
Sep. 30, 2021
Notes to Financial Statements  
Subsequent Events [Text Block]


Subsequent Events


The Company has evaluated events and transactions subsequent to September 30, 2021 and through the date these condensed consolidated financial statements were included in this Quarterly Report on Form 10-Q and filed with the SEC.


Resignation of CEO: On October 24, 2021, Jed A. Latkin resigned as Chief Executive Officer, Chief Financial Officer and Chief Operating Officer of the Company, and as a member of the Company’s Board of Directors (the “Board”), effective immediately. Mr. Latkin and the Company are discussing the terms of a severance agreement pursuant to his employment contract.


The Company’s Board of Directors has established an Executive Leadership Committee to lead the Company on an interim basis while its next CEO is identified. The Executive Leadership Committee includes Michael Rosol, Ph.D., the Company’s Senior Vice President and Chief Medical Officer; Erika Eves, the Company’s Vice President of Finance and Administration; and Jeffrey Smith, the Company’s Vice President of Operations. The Executive Leadership Committee will work with a newly established Board Oversight Committee, consisting of independent directors Alexander Cappello, Thomas Farb and John K. Scott, Jr.