Danish biopharmaceutical company NeuroSearch A/S’s (CPH: NEUR) CEO Patrik Dahlen is let go as of 1st of July 2012 and will be replaced by current CFO René Schneider who will also continue in that capacity. The company has lost most of its stock market value in recent times after less than convincing data with its lead product candidate Huntexil that has been studied as a treatment for Huntington’s disease.
Mr. Dahlen was hired to lead the company towards commercialization of Huntexil where as now the focus has shifted into trying to find a global partner to continue its development. The share has slid another sizeable part following the announcement. The company also faces charges for alleged share price manipulation following the well known MermaiHD Huntexil trial data release gaffe in 2010.
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