DBV Technologies ADR (NASDAQ: DBVT) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced a management update that excited investors, sending the stock screaming for the top. Today, we’ll talk about:
- The management update;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
DBVT Announces Management Update
As mentioned above, DBV Technologies is having a great day in the market today after announcing various leadership changes. Here are the changes the company said that it has made to its management team:
First and foremost, the company’s CSO, Dr. Hugh Sampson, will maintain his role as CSO and assume the role of interim Chief Medical Officer. Dr. Lucia Septien-Velez, the previous CMO has decided to leave in order to pursue other opportunities.
Also, DBVT said that Julie O’Neil has been engaged to direct all product development, manufacturing, supply chain, quality assurance and end-to-end process optimization following recent discussions with the United States Food and Drug Administration (FDA).
Finally, the company said that as a result of these operational changes, Alan Kerr, SVP and Head of Global Regulatory Affairs will now report directly to the company’s CEO, effective immediately.
In a statement, Daniel Tassé, CEO at DBVT, had the following to offer:
These operational changes mark an important transition for DBV as we continue to evolve from late-stage research and development into a potentially commercial-stage company. We believe Hugh and Julie bring a critical set of skills that will strengthen our ability to deliver innovative Viaskin product candidates to patients and families worldwide. They will work closely with our regulatory team to potentially bring Viaskin Peanut to children suffering from peanut allergy as quickly as possible.
Hugh is one of the leading voices in the field of food allergies and immunology, and we are thrilled to have him at the helm of our scientific and medical strategy for the Viaskin platform. And we are thrilled to welcome Julie, who is an accomplished leader with a proven record of success in manufacturing excellence for over three decades, overseeing several FDA biological approvals. Hugh and Julie`s expertise, coupled with their unwavering commitment to serving patients, make them right leaders to drive our anticipated upcoming resubmission of the BLA for Viaskin Peanut.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of DBV Technologies, the news proved to be overwhelmingly positive, especially when you read between the lines.
First and foremost, we have a company that has made several moves, greatly strengthening its management team and providing additional value to shareholders. Morever, the fact that the company has made a hire based on positive discussions with the FDA is a sign of more positive news to come.
So, it’s not surprising to see that excited investors are pushing the stock on a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:51), DBVT is trading at $7.96 per share after a gain of $0.97 per share or 13.88% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets team will continue to keep a close eye on DBVT. In particular, we’re interested in following the growth of the company following the news of the strengthened management team. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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