VITAL THERAPIES, INC. (NASDAQ:VTL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Termination of Chief Executive Officer without Cause; Director Resignation
On January 21, 2019, in an effort to further reduce operating costs, the board of directors (the “Board”) of Vital Therapies, Inc. (“Vital”) notified Mr. Russell Cox that his employment with the Company would be terminated without cause as of January 25, 2019. Mr. Cox has submitted his resignation from our Board effective as of January 25, 2019.
Appointment of Chief Executive Officer; Appointment of New Director
On January 21, 2019, the Board appointed Dr. Duane D. Nash as Vital’s Chief Executive Officer, effective as of January 25, 2019. In addition, to Vital’s Certificate of Incorporation, the Board appointed Dr. Duane D. Nash to our Board, effective January 25, 2019, to fill the vacancy created by Mr. Cox’s resignation.
About VITAL THERAPIES, INC. (NASDAQ:VTL)
Vital Therapies, Inc. is a biotherapeutic company. The Company is focused on developing a human hepatic cell-based treatment targeting acute forms of liver failure. Its product candidate, the ELAD System, is an extracorporeal human allogeneic cellular liver therapy designed to allow the patient’s liver to regenerate to a healthy state, or to stabilize the patient until transplant. The ELAD System is a liver support system containing immortal human liver-derived cells, or VTL C3A cells. The Company initiated a Phase III clinical trial in severe acute alcoholic hepatitis (sAAH), referred to as VTL-308. Its VTL-308 is a randomized, open-label, multicenter, controlled, pivotal study, designed to evaluate the ELAD System in subjects with sAAH. It is based on pre-specified and post-hoc analyses of its VTI-208 phase III clinical trial in alcohol-induced liver decompensation (AILD). The Company’s ELAD System consists of approximately four disposable ELAD C3A cell cartridges.
