Genelux Corporation appoints Matthew Pulisic as Chief Financial Officer to enhance financial strategy and support Olvi-Vec launch.
Quiver AI Summary
Genelux Corporation announced the appointment of Matthew Pulisic as Chief Financial Officer, effective January 30, 2025. Pulisic brings over 19 years of finance and commercial experience in the biopharmaceutical industry, having previously served as Vice President of Finance at Arrowhead Pharmaceuticals. His background merges financial expertise with a scientific education, which Genelux believes will support the company's ambitions for the launch of its product candidate Olvi-Vec. The press release highlighted Pulisic's accomplishments in shaping financial strategies and operational improvements in prior roles, and he received a stock option grant as part of his new role. Genelux is focused on developing next-generation oncolytic immunotherapies, with Olvi-Vec currently in a Phase 3 trial for ovarian cancer.
Potential Positives
- Genelux Corporation has appointed Matthew Pulisic as the new Chief Financial Officer, bringing over 19 years of experience in the biopharmaceutical industry.
- Pulisic's financial expertise and strategic mindset are expected to significantly benefit Genelux as it prepares for the potential launch of its advanced product candidate, Olvi-Vec.
- The appointment indicates a focus on strengthening financial leadership and operational strategy within the company, which may enhance shareholder value.
- Pulisic was granted a stock option for 275,000 shares, aligning his incentives with the company's performance and future success.
Potential Negatives
- Appointment of a new CFO could indicate previous instability in financial leadership, raising concerns about the company's internal management.
- The grant of a significant stock option as part of the CFO's compensation might suggest the company's need to incentivize talent amid potential challenges in maintaining investor confidence.
- The press release mentions forward-looking statements that are subject to significant risks and uncertainties, highlighting the unpredictability of the company's future performance and the potential for disappointing results.
FAQ
Who is the new Chief Financial Officer of Genelux Corporation?
The new Chief Financial Officer of Genelux Corporation is Matthew Pulisic, effective January 30, 2025.
What experience does Matthew Pulisic bring to Genelux?
Matthew Pulisic has over 19 years of finance and commercial experience in the biopharmaceutical industry.
What role did Matthew Pulisic hold before Genelux?
Before joining Genelux, Matthew Pulisic was Vice President of Finance at Arrowhead Pharmaceuticals.
What is Olvi-Vec and its significance for Genelux?
Olvi-Vec is Genelux’s advanced oncolytic immunotherapy candidate, currently in a Phase 3 trial for ovarian cancer.
What stock option was granted to Matthew Pulisic upon his appointment?
Matthew Pulisic was granted an inducement stock option to purchase 275,000 shares at an exercise price of $3.95 each.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$GNLX Insider Trading Activity
$GNLX insiders have traded $GNLX stock on the open market 17 times in the past 6 months. Of those trades, 0 have been purchases and 17 have been sales.
Here’s a breakdown of recent trading of $GNLX stock by insiders over the last 6 months:
- ALADAR SZALAY has made 0 purchases and 11 sales selling 540,000 shares for an estimated $1,212,589.
- THOMAS ZINDRICK (President and CEO) sold 14,315 shares for an estimated $33,497
- JOSEPH CAPPELLO (VP, Pharmaceutical Development) sold 6,300 shares for an estimated $14,742
- JAMES L TYREE has made 0 purchases and 2 sales selling 5,190 shares for an estimated $13,010.
- RALPH SMALLING (Head of Regulatory) sold 2,510 shares for an estimated $5,873
- LOURIE S. ZAK (Chief Financial Officer) sold 2,103 shares for an estimated $4,921
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$GNLX Hedge Fund Activity
We have seen 20 institutional investors add shares of $GNLX stock to their portfolio, and 40 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ARMISTICE CAPITAL, LLC removed 900,000 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $2,133,000
- HIGHBRIDGE CAPITAL MANAGEMENT LLC removed 631,307 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $1,496,197
- GOLDMAN SACHS GROUP INC removed 180,245 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $427,180
- BLACKROCK, INC. removed 97,986 shares (-24.0%) from their portfolio in Q3 2024, for an estimated $232,226
- NORTHERN TRUST CORP removed 97,589 shares (-67.2%) from their portfolio in Q3 2024, for an estimated $231,285
- MARSHALL WACE, LLP added 93,100 shares (+931.0%) to their portfolio in Q3 2024, for an estimated $220,647
- CHARLES SCHWAB INVESTMENT MANAGEMENT INC removed 90,303 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $214,018
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
WESTLAKE VILLAGE, Calif., Feb. 03, 2025 (GLOBE NEWSWIRE) -- Genelux Corporation (NASDAQ: GNLX), a late clinical-stage immuno-oncology company, today announced that Matthew Pulisic has joined the company as its new Chief Financial Officer, effective January 30, 2025.
"I am very pleased to welcome Matt as our new Chief Financial Officer. Matt’s financial acumen, strategic mindset and proven leadership abilities are an ideal fit for Genelux,” said Thomas Zindrick, President, CEO and Chairman of the Board. “His unique combination of financial expertise and scientific background will be valuable as the company continues building towards the potential launch of Olvi-Vec.”
Mr. Pulisic is an accomplished, senior executive with over 19 years of finance and commercial experience in the biopharmaceutical industry, having worked across the United States, Europe, and Asia. He is recognized for his expertise in financial leadership, corporate strategy and operational execution.
Most recently, Mr. Pulisic served as Vice President of Finance at Arrowhead Pharmaceuticals, a publicly traded RNAi technology company. He played a key role in shaping the company’s financial direction, leading planning and analysis, establishing a commercial manufacturing facility, and driving operational improvements to support the company’s evolution from a clinical-stage to a pre-commercial organization. He began his career at Amgen, a publicly traded commercial biotechnology company, as a Research Associate and transitioned into finance where he held positions of increasing responsibility, across a breadth of finance-related positions, including Finance Director of Amgen Worldwide and Head of Capital Finance. He graduated from California Lutheran University with his M.B.A. in finance and from the University of California, Santa Cruz with his B.S. in Biochemistry and Molecular Biology.
“I am excited to join the Genelux team and look forward to advancing our financial strategy, delivering enhanced shareholder value and bringing life-changing therapies to patients,” said Mr. Pulisic.
In connection with his appointment as Chief Financial Officer, Mr. Pulisic was granted an inducement award of a stock option to purchase 275,000 shares of common stock under the Company’s 2023 Inducement Plan in accordance with Nasdaq Listing Rule 5635(c)(4), at an exercise price of $3.95 per share. The Inducement Option will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the vesting commencement date and the balance of the underlying option shares vesting monthly thereafter over 36 months, subject to Mr. Pulisic’s continued service relationship with the Company through the applicable vesting dates.
About Genelux Corporation
Genelux is a late-stage clinical biopharmaceutical company focused on developing a pipeline of next-generation oncolytic immunotherapies for patients suffering from aggressive and/or difficult-to-treat solid tumor types. The Company's most advanced product candidate, Olvi-Vec (olvimulogene nanivacirepvec), is a proprietary, modified strain of the vaccinia virus. Olvi-Vec currently is being evaluated in OnPrime/GOG-3076, a multi-center, randomized, open-label Phase 3 registrational trial evaluating the efficacy and safety of Olvi-Vec in combination platinum-doublet + bevacizumab compared with physician's choice of chemotherapy and bevacizumab in patients with platinum-resistant/refractory ovarian cancer. The core of Genelux's discovery and development efforts revolves around its proprietary CHOICE™ platform from which the Company has developed an extensive library of isolated and engineered oncolytic vaccinia virus immunotherapeutic product candidates, including Olvi-Vec. For more information, please visit
www.genelux.com
and follow us on Twitter
@Genelux_Corp
and on
LinkedIn
.
Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “believes,” “anticipates,” “expect,” “may,” “plan” or “will”. Forward-looking statements in this release include, but are not limited to, statements related to Mr. Pulisic’s expected contribution to the Company and the potential launch of Olvi-Vec. Such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements. These and other risks are identified under the caption “Risk Factors” in Genelux’s filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Genelux does not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.
Investor and Media Contacts
Ankit Bhargava, MD
Allele Communications, LLC
[email protected]
Source: Genelux Corporation
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d4325c77-1241-4a93-9957-42ea72fb6fe8