PROVECTUS BIOPHARMACEUTICALS, INC. (OTCMKTS:PVCT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On December27, 2016, the Board of Directors of Provectus
Biopharmaceuticals, Inc. (the Company) unanimously voted to
terminate Peter R. Culpepper, effective immediately, from all
positions held with the Company and each of its subsidiaries,
including Interim Chief Executive Officer and Chief Operating
Officer of the Company, for cause, in accordance with the terms
of his employment agreement based on the results of the
investigation conducted by a Special Committee of the Companys
Board of Directors regarding improper expense advancements and
reimbursements to Mr.Culpepper.
As previously reported, the Board of Directors has established a
search committee to identify a permanent Chief Executive Officer.
In the interim, Timothy C. Scott, Ph.D., the Companys President,
will perform the functions of the chief executive officer
position in his capacity as President while the chief executive
officer position remains vacant.
Item7.01. Regulation FD Disclosure.
On December28, 2016, the Company issued a press release
announcing the termination of Mr.Culpepper. A copy of the press
release is filed as Exhibit 99.1 hereto and is incorporated
herein by reference. to the rules and regulations of the
Securities and Exchange Commission, the information in this
Item7.01 disclosure, including Exhibit 99.1 and information set
forth therein, is deemed to have been furnished and shall not be
deemed to be filed under the Securities Exchange Act of 1934.
Item9.01. Financial Statements and Exhibits.
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(d) |
Exhibits. |
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Exhibit Number |
Description |
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99.1 |
Press Release, dated December 28, 2016 |
About PROVECTUS BIOPHARMACEUTICALS, INC. (OTCMKTS:PVCT)
Provectus Biopharmaceuticals, Inc. is a development-stage biopharmaceutical company. The Company is engaged in developing pharmaceuticals for oncology and dermatology indications. The Company is focused on developing its prescription drug candidates, PV-10 and PH-10. It is developing PV-10 for treatment of several life threatening cancers, including metastatic melanoma, liver cancer and breast cancer. It is developing PH-10 to provide minimally invasive treatment of chronic severe skin afflictions, such as psoriasis and atopic dermatitis, a type of eczema. In addition to clinical trials, patients enrolled in the expanded access or compassionate use program for PV-10 are also receiving PV-10 treatments for cutaneous and subcutaneous cancer indications. The Company also focuses on over-the-counter (OTC) products and various other non-core technologies. PV-10 is a sterile injectable form of rose bengal disodium (Rose Bengal), for direct injection into tumors. PROVECTUS BIOPHARMACEUTICALS, INC. (OTCMKTS:PVCT) Recent Trading Information
PROVECTUS BIOPHARMACEUTICALS, INC. (OTCMKTS:PVCT) closed its last trading session down -0.0030 at 0.0190 with 7,320,178 shares trading hands.