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NXGL News
NXGL Events
Nexgel Inc Trading Halted, News Pending
Nexgel Inc trading halted, news pending
Company Establishes Special Committee for Strategic Review
The board has established a special committee for strategic review and value creation to oversee a review of the company's operations, asset portfolio, liquidity position, and long-term strategic direction. As part of its mandate, the committee will review all non-core assets, product lines, and business activities. The review may consider continued operation, divestiture, strategic partnerships, restructuring or wind-down opportunities. The objective is to improve liquidity, simplify operations and concentrate capital and management resources on the businesses. The board believes the company's most significant growth opportunities include BioNX Surgical, BioNX Regenerative Eye Health & Aesthetics, and its advanced hydrogel technologies.
NexGel Appoints Brian Kieser as Interim CEO
NexGel announced effective August 21, Brian Kieser has been appointed interim CEO of NexGel. Following the company's April acquisition of certain assets from Celularity, Kieser became actively involved in the integration of the BioNX Surgical division, manufacturing transition initiatives, commercialization strategy, financing activities, and broader strategic planning efforts through NexGel's strategic partnership with Sequence Life Science. Effective August 21, Adam Levy will cease serving as CEO and as an employee of the company. In connection with his separation from the company, Levy and the company are negotiating a separation agreement and release, and Levy has resigned from all officer, director, committee and other fiduciary positions with the company and its subsidiaries effective as of August 21. Levy has agreed to provide transition assistance to the company for a period of 90 days following his separation.
Selling Stockholders Plan to Sell 15.25M Shares of Common Stock
This filing relates to the offer and sale from time to time by the selling stockholders of up to 15.25M shares of common stock. The company is not selling any shares under this prospectus and will not receive any of the proceeds from the sale of shares by the selling stockholders.
NexGel Reports Clinical Study Data Showing 37.2% Reduction in Hair Density
NexGel announced data from the randomized, 30-patient, single-center institutional review board clinical study, funded by Innovative Optics, a supplier of safety products and personal protective equipment for medical, surgical and aesthetic healthcare facilities globally. Positive data from the study detailed a 95.6% reduction in plume concentration compared to the control side. Additionally, at 90 days posttreatment, the interventional site demonstrated a 37.2% mean reduction in hair density versus 26.7% on the control side. Mean pain scores were also significantly lower on the intervention side, with no adverse events were reported.
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