The president and CEO of Marlborough biotech company Phio Pharmaceuticals Corp., Gerrit Dispersyn, is stepping down from his role, the firm announced Thursday.
Phio’s former president and CEO, Dr. Geert Cauwenbergh, who served before Dispersyn, will fill in as principal executive officer until a new CEO is chosen by the board of directors.Â
Dispersyn joined Phio in 2017 as chief development officer and was appointed president and CEO in 2019, replacing Cauwenbergh. During his tenure, Gerrit repositioned Phio’s focus on immuno-oncology therapeutics, to treat cancer.
In fiscal year 2021, Phio Pharmaceuticals nearly doubled its cash on hand to $24.1 million in December. With rising research expenses, it lost a net of $13.3 million, or $1.04 per share, in 2021.
