KemPharm Provides Updates Regarding its Board of Directors
September 20 2019 - 5:00PM
KemPharm, Inc. (Nasdaq: KMPH), a specialty pharmaceutical company
engaged in the discovery and development of proprietary
prodrugs, announced today that, on September 18, 2019, Danny
L. Thompson provided notice of his resignation from the Company’s
Board of Directors, citing personal health reasons. Mr. Thompson’s
resignation was effective immediately.
Named to KemPharm’s Board in 2007, Mr. Thompson,
55, served as an independent Director and Chairman of the Board’s
Audit Committee. Following Mr. Thompson’s resignation, the Board
has appointed Richard W. Pascoe, the Company’s Lead Independent
Director and a standing member of the Audit Committee, to serve as
Chairman of the Audit Committee, effective September 18, 2019. In
addition, the Board has also appointed David S. Tierney, M.D., to
serve on KemPharm’s Audit Committee, joining Mr. Pascoe and Joseph
B. Saluri. Subsequent to Mr. Thompson’s resignation, the Board
reduced its size from six to five members.
“This announcement comes with a mix of sadness
and gratitude,” said Travis C. Mickle, Ph.D., Chairman, President,
Chief Executive Officer of KemPharm. “Danny has been a member of
our Board since KemPharm’s early days, and during that time, his
business experience, financial acumen, and strategic thinking have,
without question, made an immeasurable contribution to KemPharm’s
growth and success.” Dr. Mickle added, “I will be forever thankful
for Danny’s service to our company, and we will keep him in our
thoughts as he tends to his health with the support of his family
and friends.”
Mr. Thompson commented, “Although I must resign
from KemPharm’s Board for health reasons, it has been my privilege
to serve the Company’s shareholders, its dedicated employees,
management team and Board of Directors. Through the last 12 years,
KemPharm has grown significantly, and I believe the Company’s
product candidates have tremendous potential benefits for patients.
I remain confident in the Company’s opportunities for success,
particularly following the licensing agreement with an affiliate of
Gurnet Point Capital.”
In addition to his years on KemPharm’s Board,
Mr. Thompson has served as the President of Success Bank since
1998, adding the responsibility of Chief Executive Officer
beginning in 2017, and also as Vice President of Garrett
Bancshares, LTD, since 2006. From 1984 to 1997, he held several
positions at Davis County Savings Bank including Executive Vice
President of Operations, Trust Officer and Commercial Loan
Officer.
About KemPharm
KemPharm is a specialty pharmaceutical
company focused on the discovery and development of proprietary
prodrugs to treat serious medical conditions through its
proprietary LATTM (Ligand Activated Therapy)
technology. KemPharm utilizes its proprietary LAT technology
to generate improved prodrug versions of FDA-approved drugs as
well as to generate prodrug versions of existing compounds that may
have applications for new disease indications. KemPharm’s prodrug
product candidate pipeline is focused on the high need areas of
attention deficit hyperactivity disorder, or ADHD, and stimulant
use disorder. KemPharm’s co-lead clinical development candidates
for the treatment of ADHD, KP415 and KP484, are both based on a
prodrug of d-methylphenidate, but have differing duration/effect
profiles. In addition, KemPharm has
received FDA approval for APADAZ®, an immediate-release
combination product containing benzhydrocodone, a prodrug of
hydrocodone, and acetaminophen. For more information
on KemPharm and its pipeline of prodrug product
candidates visit www.kempharm.com or connect with us
on Twitter, LinkedIn, Facebook and YouTube.
KemPharm Contacts Jason
Rando / Maureen McEnroe Tiberend Strategic Advisors, Inc.
212-375-2665 / 2664 jrando@tiberend.com mmcenroe@tiberend.com
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