Lixte Biotechnology Holdings Announces The Passing Of Its Founder And Executive Chairman, John S. Kovach
Portfolio Pulse from Benzinga Newsdesk
LIXTE Biotechnology Holdings, Inc. (NASDAQ:LIXT) announced the passing of its founder and Executive Chairman, John S. Kovach, M.D. Dr. Kovach founded the company in 2005 and served as LIXTE's President and CEO until September 26, 2023. He was succeeded by Bas van der Baan. The company is developing a novel class of cancer therapy called PP2A inhibitors.
October 09, 2023 | 12:38 pm
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The passing of LIXTE's founder and former CEO, John S. Kovach, may cause short-term uncertainty for the company. However, a succession plan was already in place, with Bas van der Baan taking over as President and CEO.
The death of a company's founder and former CEO can cause uncertainty among investors, potentially leading to short-term volatility in the stock price. However, the impact may be mitigated by the fact that a succession plan was already in place, with Bas van der Baan taking over as President and CEO.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100