Kiromic BioPharma, Inc. (KRBP) Stock Surged 26.19% After-Market, Here’s Why       

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Kiromic BioPharma, Inc. (KRBP) stock soared 26.19% in the after-market trading session at the price of $1.06 despite no fundamental updates. The last published news was management changes in the company’s board of directors.

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KRBP is a fully-integrated clinical biotherapeutics firm. The company leverages its DIAMOND intelligence technology to produce gene and cell therapies with a prime focus on immuno-oncology. Kiromic is generating a CAR-T cell therapeutic that employs the natural strength of gamma delta T-cells to treat solid cancers.

KRBP Reported Management Changes

On 3rd February 2022, KRBP reported changes in its leadership and board of directors. Moreover, the company disclosed the foundation of a Disclosure Committee.

KRBP’s ex-Chair of Audit Committee, Pietro Bersani, was designated as Acting CEO. He replaced Maurizio Chiriva, who resigned from his positions as Chairman and CEO of the company board of directors. The company’s director, Michael Nagel, accepted his role as new Chairman of the board. All management changes became effective on 27th January 2022.

KRBP Appointed Karen Reeves and Frank Tirelli

On 3rd February 2022, KRBP appointed Karen Reeves and Frank Tirelli to its board of directors. Mr. Tirelli has accepted the position of Chair of KRBP’s Audit Committee. His appointment to the board became effective on 28th January 2022. Dr. Reeves’s appointment was effective from 14th February 2022.

Karen Reeves is a CMO and President at AZTherapies. She started her biopharma career at Pfizer and served as Head, Vice President of Global Clinical Submissions Quality. Dr. Karen has over 25 years of biopharmaceutical experience in business development, clinical R&D, operational, regulatory development, and leadership. She has delivered supervision across numerous therapeutic areas, including oncology, neuroscience, immunology, urology, infectious diseases, and rare conditions.

Mr. Tirelli is a licensed CPA with over 30 years of work experience. Previously, he had worked at alliantgroup as the Chairman of Professional Services. He brought tremendous financial reporting expertise to his new role at KRBP.