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- OncoSil (OSL) shares are down this morning after announcing its CEO Daniel Kenny is no longer part of the company
- There is no explanation as to why Daniel is no longer part of OncoSil after six years in the role
- The company’s current Chairman, Dr Chris Roberts, will step into the Executive Chairman role while a replacement is found
- On top of this, the company is not expecting any European revenue this year and has given no reason as to why
- On the market this morning, OncoSil is down 14.5 per cent and is trading for 14.5 cents per share
OncoSil (OSL) shares are down this morning after announcing its CEO Daniel Kenny is no longer part of the company.
The medical device company has terminated his role and gave no reason as to why.
Daniel has been with the company over the last six years and the board has thanked him for his services and contribution.
As the company looks for a replacement, OncoSil’s current Chairman, Dr Chris Roberts, will step into the Executive Chairman role. Chris has been with the company since May 2017.
In April, OncoSil received its CE Mark for its namesake device and has since progressed with the necessary launch preparations for the first sales in Europe.
However, the company has stated today it is unlikely to receive European revenues this year, as previously forecast. OncoSil has not given any mention as to why this has happened.
The OncoSil device is designed to treat locally advanced pancreatic cancer (LAPC) in combination with chemotherapy.
The CE Mark approval allows the device to be marketed and sold within the European Union and United Kingdom.
On the market this morning, OncoSil is down 12.1 per cent and is trading for 14.5 cents per share at 10:58 am AEDT.
