Immune Pharmaceuticals was out Monday with a business update and financial highlights for Q2. Dr. Tony Fiorino has joined the company as Chief Medical Officer and Chief Operating Officer.
The company said its oncology spin-off, Cytovia, has named Daniel Teper as Chief Executive Officer, with Rama Rao, a former Novartis (NVS) executive, being appointed as Cytovia’s interim Chief Financial Officer and Chief Operating Officer. The company says Cytovia anticipates applying for listing of its securities on an eligible NASDAQ trading market, and that it intends to distribute shares in the spun-off Cytovia Inc. to Immune shareholders as a dividend in proportion to each holder’s ownership of shares in Immune. For Q2, the company said total cash and non-cash operating expenses were approximately $2.8 million, down from approximately $2.9 million for the same period last year.