TFF Pharmaceuticals will terminate employees and cease operations, appointing Craig R. Jalbert as the new CEO.
Quiver AI Summary
TFF Pharmaceuticals, Inc. announced the termination of its employees and plans to wind down operations following a decision made by its board of directors. Craig R. Jalbert has been appointed as the new CEO and sole board member; he has extensive experience in managing distressed businesses. The press release includes forward-looking statements regarding the wind-down process, noting that these statements are subject to risks and uncertainties that could lead to different outcomes than anticipated. TFF Pharmaceuticals specified that it does not intend to update these statements except as required by law.
Potential Positives
- Appointment of Craig R. Jalbert as CEO signaling potential for experienced leadership during the wind-down phase.
Potential Negatives
- The termination of employees and winding down of operations indicate a significant decline in the company's viability and may lead to a loss of investor confidence.
- The appointment of a turnaround specialist as the sole executive suggests the company is in a dire situation, raising concerns about its financial stability and future prospects.
- The press release heavily emphasizes forward-looking statements, which may be perceived as an attempt to mitigate negative news regarding the company's current status and future plans, but could also highlight uncertainty in its trajectory.
FAQ
Why did TFF Pharmaceuticals terminate its employees?
TFF Pharmaceuticals terminated its employees as part of a decision to wind down operations, announced by the board of directors.
Who is the new CEO of TFF Pharmaceuticals?
Craig R. Jalbert has been appointed as the CEO, President, and Chief Financial Officer of TFF Pharmaceuticals.
What experience does Craig R. Jalbert have?
Craig R. Jalbert has over 30 years of experience focusing on distressed businesses and has served in wind-down phases for various firms.
What are forward-looking statements in TFF Pharmaceuticals' announcement?
Forward-looking statements are statements about future plans that involve risks and uncertainties that may lead to different actual results.
Where can I find more information about risks related to TFF Pharmaceuticals?
More information about risks can be found in TFF Pharmaceuticals' filings with the Securities and Exchange Commission under "Risk Factors."
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.
$TFFP Hedge Fund Activity
We have seen 7 institutional investors add shares of $TFFP stock to their portfolio, and 6 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ARMISTICE CAPITAL, LLC added 42,305 shares (+22.8%) to their portfolio in Q3 2024
- WESTSIDE INVESTMENT MANAGEMENT, INC. added 11,266 shares (+28.7%) to their portfolio in Q2 2024
- WEALTHGARDEN F.S. LLC added 10,240 shares (+inf%) to their portfolio in Q3 2024
- GEODE CAPITAL MANAGEMENT, LLC added 6,201 shares (+28.4%) to their portfolio in Q3 2024
- RENAISSANCE TECHNOLOGIES LLC added 5,720 shares (+38.7%) to their portfolio in Q3 2024
- TOWER RESEARCH CAPITAL LLC (TRC) removed 2,984 shares (-60.5%) from their portfolio in Q3 2024
- NORDWAND ADVISORS, LLC added 1,000 shares (+inf%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
FORT WORTH, Texas, Nov. 14, 2024 (GLOBE NEWSWIRE) -- TFF Pharmaceuticals, Inc. (Nasdaq: TFFP) today announced that the Company has terminated its employees and will wind down its operations. This decision was made at a special meeting of the board of directors.
The board of directors appointed Craig R. Jalbert, age 63, as the Company’s CEO, President, Chief Financial Officer, Treasurer and Secretary, and sole member of the board. Mr. Jalbert has served as a principal of the Foxborough, Massachusetts accounting firm of Verdolino & Lowey, P.C. since 1987. For over 30 years he has focused his practice in distressed businesses and has served, and continues to serve, in the capacities of officer and director for numerous firms in their wind-down phases.
Forward Looking Statements
Statements made in this press release regarding matters that are not historical facts are “forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward‐looking statements. Such statements include, but are not limited to, statements regarding our plans to wind down our operations or other statements not of historical fact. Risks that could cause actual results to differ from those expressed in these forward‐looking statements include: the timing, progress and results of our planned wind down; general market conditions; and other risks described in TFF Pharmaceuticals’ filings with the Securities and Exchange Commission under the heading “Risk Factors”. 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. TFF Pharmaceuticals undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made except as required by law.
Company Contact
:
Verdolino & Lowey, P.C.
124 Washington Street, Suite 101
Foxboro, MA. 02035
Phone - 508-543-1720
