DIPEXIUM PHARMACEUTICALS, INC. (NASDAQ:DPRX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On November 14, 2016, Dipexium Pharmaceuticals, Inc. (the “Company”) and David Garrett, the Company’s Vice President, Finance and Corporate Development, mutually agreed to terminate Mr. Garrett’s employment agreement, effective as of November 30, 2016, so that he may pursue other opportunities. The decision of the Company to terminate Mr. Garrett’s employment agreement was not the result of a disagreement between Mr. Garrett and the Company on any matter relating to the Company’s financial condition or financial reporting. The Company and Mr. Garrett are finalizing the terms of his severance arrangement, which will be disclosed in a separate report on Form 8-K once agreed upon.
About DIPEXIUM PHARMACEUTICALS, INC. (NASDAQ:DPRX)
Dipexium Pharmaceuticals, Inc. is a late-stage pharmaceutical company. The Company is focused on the development and commercialization of Locilex (pexiganan cream 0.8%), a first-in-class, broad spectrum, topical antibiotic. Locilex is focused on the treatment of mild infections of diabetic foot ulcers (Mild DFI). As a topical antibiotic, Locilex affects only the area to which it is applied, and does not spread to the entire body through the bloodstream, which is host to a number of different bacteria other than bacteria causing the skin infection. It is conducting over two Phase III clinical trials of Locilex for the treatment of Mild DFI (DPX-305 and DPX-306) in the United States. The Company has conducted over two separate Phase I skin irritation and skin sensitization studies. Locilex has demonstrated statistical non-inferiority to a systemic antibiotic in a randomized, active-controlled double blind, multi-center clinical study in patients with Mild or Moderate DFI. DIPEXIUM PHARMACEUTICALS, INC. (NASDAQ:DPRX) Recent Trading Information
DIPEXIUM PHARMACEUTICALS, INC. (NASDAQ:DPRX) closed its last trading session down -0.15 at 1.40 with – shares trading hands.
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