Fusion Antibodies PLC - Belfast-based contract research organisation providing discovery, design and optimisation services for therapeutic antibodies to the healthcare market - Appoints Stephen Smyth as interim chief financial officer with immediate effect. Smyth was previously CFO at Sera Global LP, and has held senior finance positions at Cormark Securities Inc and PricewaterhouseCoopers LLP. He is currently a partner at FPM Accountants Ltd.
Fusion says that, as part of ongoing efforts to preserve cash, it will utilise Smyth's services on a part-time basis, supported by a team at FPM, who will provide the company with outsourced finance function services. It expects to use this arrangement until trading recovers to levels that would support the appointment of a permanent CFO and in-house finance team.
Chief Executive Officer Adrian Kinkaid says: "We are pleased to welcome Stephen on board to manage our finance team. We have been through a period of change and as we are keeping costs down, this is an ideal solution for us at the current time to conserve cash."
Current stock price: 6.50 pence, down 5.5% on Thursday
12-month change: down 93%
By Holly Beveridge, Alliance News reporter
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Fusion Antibody (FAB)