AP Pharma said today in a filing that it’s board was notified by two of its directors on Tuesday that they would not seek re-election to the board when their terms expire at the company’s next annual meeting, scheduled for May 27.
Peter Riepenhausen is stepping down after after 18 years on the company’s board, where he served on the Read the rest of this entry »
AP Pharma, the Redwood City pharmaceutical company developing drug-delivery technology, named its largest shareholder to its board of directors effective Sunday. His appointment expands the company’s board size to eight members.
Tang’s investment firm, San Diego-based Tang Capital Management, last reported holding 7.8 million shares of AP Pharma, or about a quarter of all its shares outstanding. The next largest Read the rest of this entry »
AP Pharma, the Redwood City specialty pharmaceutical company, has begun rationing its resources to ensure its survival “in response to the deterioration of the overall economic environment and the financial markets”, the company said in a release early Wednesday.
The steps include Read the rest of this entry »
AP Pharma decided to increase the amount of shares its biggest shareholder may accumulate before the company would need to swallow its poison pill, er, shareholder rights plan in order to deter him from gaining control, according to a regulatory filing Tuesday.
On Oct. 1, AP Pharma (ticker: APPA) amended its Preferred Shares Rights Agreement dated Dec. 18, 2006, to allow Kevin Tang and his affiliated companies to acquire up to Read the rest of this entry »
The welcome wagon at AP Pharma rolled out a huge option award Monday to its new chief executive, Ronald Prentki.
How big was it? Read the rest of this entry »
AP Pharma, the Redwood City specialty pharmaceutical maker, saidin a press release Michael O’Connell, its chief operating and financial officer, will leave the company Jan. 18, or the end of this week. A 15-year veteran with the company, O’Connell originally joined the company as its CFO. In 2000, he was named chief executive officer, serving as CEO until departing in October 2006 on a medical leave. O’Connell rejoined the company in the middle of last year when he took on his current duties.
The terse press release announcing the move offered no reasons why O’Connell was leaving, nor did it included any of the typical words of praise or thanks from either the company or O’Connell.
The release did take pains to note that O’Connell “will be entitled to the benefits of
a retention agreement that are payable due to his not being reappointed to the position of President and Chief Executive Officer” when he returned to the company last year.
The company called a special shareholders meeting in December in order to get shareholder approval for approve a new “”2007 Equity Incentive Plan” with 3 million shares reserved to be issued under it, because the exercise of most of its outstanding options as of October 31, was $8.96 per share, “”so far underwater when compared to our current market share prices that these options are basically ineffective in providing any meaningful incentive value.”
Both proposals passed.
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