Retrophin has announced that Stephen Aselage will take over as interim CEO immediately, replacing company founder and CEO Martin Shkreli. According to reports, Shkreli was fired for “stock trading irregularities” and other rules violations.
Aselage commented, “I am excited about the direction and future of Retrophin. We have three marketed products with a growing revenue base and multiple development candidates, both internal and external, to accelerate future growth. We will aggressively pursue business development opportunities and push our existing pipeline forward, building upon our solid financial platform. I look forward to working with the Retrophin employees to increase the company’s momentum and generate significant value for shareholders.”
Retrophin is developing Syntocinon intranasal synthetic oxytocin for the treatment of schizophrenia and autism as well as for lactation. The company announced in December 2013 that it was acquiring Kyalin Biosciences, which had been developing the carbetocin nasal spray.
Read the Retrophin press release.
