SANTA ANA, Calif. - NKGen Biotech Inc. (NASDAQ:NKGN), a clinical-stage biotechnology company, announced Monday the appointment of Dr. Marco Gottardis to its board of directors and several of its committees. Dr. Gottardis, an experienced biopharmaceutical executive, will serve on the Audit, Compensation, and Nominating and Corporate Governance Committees, effective last Thursday.
Dr. Gottardis brings a wealth of experience in oncology research and development, having previously held leadership roles at Janssen Pharmaceuticals, a Johnson & Johnson company (NYSE:JNJ), where he was Vice President of Oncology and Prostate Cancer Disease Area Stronghold Leader.
His tenure at Janssen spanned nearly a decade before moving to Replay Bio Holdings as Senior VP of Business Development and Scientific Strategy. Dr. Gottardis is also the owner of Gottardis Biotech LLC, a consultancy firm he has operated since February 2023.
The Chairman and CEO of NKGen, Dr. Paul Y. Song, MD, highlighted Dr. Gottardis's extensive background and track record in driving scientific strategy and innovation. According to Dr. Song, Dr. Gottardis's appointment is a pivotal development for NKGen as the company advances its cell therapy clinical programs, focusing on treatments for neurodegenerative diseases and cancer.
Dr. Gottardis's educational credentials include a Bachelor of Science in Biology from Columbia University and a PhD in Human Oncology from the University of Wisconsin-Madison.
NKGen specializes in developing autologous, allogeneic, and CAR-NK natural killer (NK) cell therapies, with headquarters in Santa Ana, California. The company is actively involved in clinical-stage research, aiming to bring innovative treatments to market.
This announcement is based on a press release statement from NKGen Biotech. It contains forward-looking statements about the company's plans for developing its product candidates and the expected benefits of these candidates. However, investors are cautioned that such forward-looking statements involve risks and uncertainties, and actual results may differ materially.
These statements have not been independently verified, and reliance on them should take into account the inherent risks detailed in the company's filings and reports available through the Securities and Exchange Commission.
In other recent news, Johnson & Johnson (JNJ) has been a focal point of several significant developments. The pharmaceutical giant acquired Yellow (OTC:YELLQ) Jersey for approximately $1.25 billion, securing global rights to NM26, a bispecific antibody for atopic dermatitis.
The deal is expected to result in a research and development charge of around $1.25 billion for the third quarter of 2024. In addition, JNJ disclosed positive results from the Phase 3 CARTITUDE-4 study, demonstrating a survival benefit in patients with multiple myeloma treated with CARVYKTI®.
On the legal front, the U.S. Supreme Court directed a lower court to reassess a lawsuit involving JNJ and other pharmaceutical companies over allegations of facilitating terrorism. Furthermore, a proposed class action is demanding medical monitoring for women who may develop cancer due to the use of JNJ's talc-based products.
In the realm of mergers and acquisitions, JNJ has been involved in substantial deals, including a $13 billion purchase of Shockwave Medical (NASDAQ:SWAV). Analysts from RBC Capital have maintained an Outperform rating on JNJ, while Citi has adjusted its price target for the company to $180, maintaining a 'Buy' rating. These are some of the recent developments concerning Johnson & Johnson.
InvestingPro Insights
As NKGen Biotech welcomes Dr. Marco Gottardis, formerly of Johnson & Johnson (NYSE:JNJ), to its board, investors may find it beneficial to consider the current financial health and market performance of his previous affiliation. Johnson & Johnson, a leading entity in the pharmaceuticals industry, presents a stable investment profile with notable highlights.
InvestingPro data indicates that JNJ holds a substantial market capitalization of $360.71 billion, reflecting its significant presence in the market. The company's P/E ratio, a key metric for valuation, stands at a moderate 9.71, suggesting that the stock might be reasonably priced relative to its earnings.
Moreover, investors may be attracted to JNJ's robust revenue growth over the last twelve months as of Q1 2024, which was reported at 10.57%. This growth is indicative of the company's capacity to expand its financial top line in a competitive industry landscape.
Among the InvestingPro Tips for JNJ, two particularly resonate with the article's context. Firstly, JNJ has raised its dividend for 53 consecutive years, which may interest income-focused investors, especially those valuing consistency and reliability in shareholder returns. Secondly, the company's stock generally trades with low price volatility, providing a measure of stability in an investor's portfolio.
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