OvaScience Inc (NASDAQ:OVAS)
OvaScience Inc (NASDAQ:OVAS) shares are up over 13% on volumes in excess of four times their normal average. Waltham, MA-based OvaScience Inc (NASDAQ:OVAS) today announced that Christopher Kroeger, M.D., M.B.A., has been appointed Chief Executive Officer. The appointment will take effect on September 1, 2017. Dr. Kroeger is reported to possess extensive experience leading, building and advising development-stage therapeutic and medical device companies. Dr. Kroeger brings a strong clinical and research background as a practicing physician and scientist. Upon Dr. Kroeger’s transition to OvaScience Inc (NASDAQ:OVAS), Michelle Dipp, M.D., Ph.D., Co-Founder and Executive Chairman of OvaScience plans to step down as Executive Chairman and will serve as an advisor to the Company.
Terms of employment include stock options. OvaScience Inc (NASDAQ:OVAS)’s Compensation Committee approved the terms of compensation on June 21, 2017. Dr. Kroeger’s compensation consists of options to purchase up to 1,783,106 shares of common stock. The options are exercisable at $1.46 per share, equal to the closing price per share of OvaScience’s common stock as of June 21, 2017. The stock options vest over about 5 years and 7 months, subject to continued service with OvaScience Inc (NASDAQ:OVAS) through the applicable vesting dates.
OvaScience, Inc. (NASDAQ: OVAS) discovers, develops and commercializes new fertility treatments. OvaScience treatments are based on their proprietary technology platform that leverages the breakthrough discovery of egg precursor (EggPC℠) cells – immature egg cells found inside the protective ovarian lining. OvaScience is developing OvaTure℠, a potential next-generation in vitro fertilization (IVF) treatment that could help a woman produce healthy, young, fertilizable eggs without hormone injections and OvaPrime℠, which could increase a woman’s egg reserve. Importantly, this treatment is unavailable inside the United States.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.