Citius CEO Myron Holubiak leaves his post

  • Push-out Score determined
  • After about six years in the position
  • Praise for Holubiak
  • Leonard Mazur taking over
  • Holubiak will remain as Executive Vice Chairman at Citius
  • Holubiak said 108 words

(exechange) — Cranford, New Jersey, April 13, 2022 — Myron Holubiak, chief executive of Citius, leaves his position. As announced by Citius Pharmaceuticals Inc. in a news release and in a regulatory filing published on Wednesday, April 13, 2022, Myron Holubiak leaves his post as chief executive officer at the late-stage biopharmaceutical company, after about six years in the role, effective May 1, 2022.

Myron Holubiak’s duties as CEO will be taken over by Leonard Mazur, currently co-founder and Executive Chairman at Citius Pharmaceuticals Inc.

Myron Holubiak’s move coincides with a management shake-up also involving the positions of Chief Business Officer; and VP, Program Leader for Anti-Infectives.

“To strengthen the Company’s commercial capabilities”

The management change is explained as follows. Citius said: “Citius Pharmaceuticals, Inc. (“Citius” or the “Company”) (Nasdaq: CTXR), a late-stage biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products with a focus on oncology, anti-infective products in adjunct cancer care, unique prescription products, and stem cell therapies, today announced that the Board of Directors has approved key management changes to strengthen the Company’s commercial capabilities as its two late Phase 3 programs for I/ONTAK (E7777) and Mino-Lok® near completion. The organizational alignment will enable Citius to focus its resources on advancing both of these near-term opportunities and will be effective as of May 1, 2022.”

Holubiak will remain as Executive Vice Chairman at Citius

“The Board of Directors has appointed Mr. Holubiak to the newly created position of Executive Vice Chairman with responsibility for building the Citius commercial team and guiding the anticipated product launches of the Company’s first commercial products. Mr. Holubiak will drive the overall commercial strategy in support of the Citius pipeline. The near-term focus will be on the successful launch of I/ONTAK for the systemic treatment of cutaneous T-cell lymphoma (CTCL), which recently released topline results from its Phase 3 trial, and Mino-Lok® which is expected to complete Phase 3 trial enrollment later this year,” Citius said.

Share price decline since April 2017

The announcement follows a decline in Citius Pharmaceuticals Inc.’s share price of 79% since April 2017.

In the position of CEO since 2016

Myron Holubiak became CEO of the Company in 2016.

Myron Holubiak is the President, Chief Executive Officer and has been a member of the Board since October 2015.

Holubiak also serves as the acting Chief Executive Officer of the Company’s majority-owned subsidiary, NoveCite, Inc.

Holubiak has extensive experience in managing and advising large and emerging pharmaceutical and life sciences companies.

Holubiak was the President of Roche Laboratories, Inc. (“Roche”), a major research-based pharmaceutical company, from December 1998 to August 2001.

Prior to that, he held sales and marketing positions at Roche during his 19-year tenure.

From September 2002 to July 2016, Holubiak served on the board of directors and for the last two years was the Chairman of the board of directors of BioScrip, Inc. (“BioScrip”) (Nasdaq: BIOS).

BioScrip is a leading national provider of infusion and home care management solutions.

Since July 2010, Holubiak has served as a member of the board of directors of Assembly Biosciences, Inc. (“Assembly”) (Nasdaq: ASMB) and its predecessor Ventrus Biosciences, Inc. Assembly is a biopharmaceutical company developing innovative treatments for hepatitis B virus infection (HBV) and C. difficile-associated diarrhea (CDAD).

Additionally, Holubiak serves as a director for bioAffinity Technologies Inc., a privately held company. In March 2013, Holubiak founded Leonard-Meron Biosciences, Inc. (“LMB”), the Company’s wholly-owned subsidiary, and he served as the Chief Executive Officer and President of LMB until March 2016.

In addition, Holubiak was also a trustee of the Academy of Managed Care Pharmacy Foundation from April 2013 to April 2015.

Holubiak received a B.S. in Molecular Biology and Biophysics from the University of Pittsburgh; he received advanced business training from the Harvard Business School and the University of London; and advanced training in health economics from the University of York’s Centre for Health Economics.

Push-out Score determined

The Push-out Score™ determined by exechange gauges the pressure surrounding Myron Holubiak’s move on a scale of 0 to 10.

exechange reached out to Citius and offered the company the opportunity to comment on the score.

Read the full story in the exechange report 16.2022 ($).