Phosphagenics investigation
Phosphagenics (ASX: PHO) is awaiting the results of an investigation into what have been identified as “irregular transactions in relation to its invoicing and accounting records.”
Independent legal and accounting professionals are undertaking a thorough and extensive investigation. The company has said that “the amounts involved may be material.”
CEO Dr Esra Ogru has been suspended by the company’s Board of Directors pending the outcomes of the investigation.
In the interim, joint CEO Harry Rosen has returned from the Phosphagenics’s New York office.
The company confirmed it held current cash of $14.1 million and that its clinical trial programs would continue as planned.
Phosphagenics’ shares were trading at $0.11 at about 11 am today.
Frequent nightmares accelerate aging, increase risk of death
Nghtmares independently predict faster biological aging and earlier mortality — even after...
Cardiac organoids bring hope for treating heart disease
Australian scientists have developed lab-grown, three-dimensional heart tissues known as cardiac...
Indigenous-led initiative to resurrect the South Island Giant Moa
New Zealand's Ngāi Tahu Research Centre has partnered with Colossal Biosciences and Sir Peter...
