Genelux Corporation Announces New Chief Financial Officer
Rhea-AI Summary
Genelux (NASDAQ: GNLX) has appointed Matthew Pulisic as its new Chief Financial Officer, effective January 30, 2025. Pulisic brings over 19 years of finance and commercial experience in the biopharmaceutical industry, having worked across the United States, Europe, and Asia.
Prior to joining Genelux, Pulisic served as Vice President of Finance at Arrowhead Pharmaceuticals, where he led planning and analysis and established a commercial manufacturing facility. He previously worked at Amgen in various finance roles, including Finance Director of Amgen Worldwide and Head of Capital Finance.
As part of his appointment, Pulisic received an inducement award of stock options to purchase 275,000 shares at $3.95 per share, vesting over four years with 25% vesting after one year and the remainder monthly over 36 months.
Positive
- Appointment of experienced CFO with 19 years of finance and commercial experience in biotech
- New CFO has relevant experience in transitioning companies from clinical to commercial stage
- Strategic hire aligned with potential Olvi-Vec launch preparations
Negative
- Significant stock option grant (275,000 shares) represents potential future dilution for shareholders
News Market Reaction – GNLX
In the trading session that priced this news, GNLX declined 10.63%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
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
genelux@allelecomms.com
Source: Genelux Corporation
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d4325c77-1241-4a93-9957-42ea72fb6fe8
