EQRx lower as CFO departs

Mar. 13, 2023 9:29 AM ETEQRx, Inc. (EQRX)By: Dulan Lokuwithana, SA News Editor

EQRx (NASDAQ:EQRX), a biotech focused on oncology and immune-inflammatory diseases, fell ~3% pre-market Monday after announcing the resignation of Jami Rubin, its Chief Financial Officer, as well as principal financial officer and principal accounting officer.
The company said that the resignation, which takes effect on Mar. 31, “is not related to a disagreement with EQRx on any matter relating to EQRx’s operations, policies or practices.” EQRx (EQRX) plans to conduct an executive search to find its next CFO.
After Ms. Rubin tendered her resignation, the board of EQRx (EQRX) has appointed Melanie Nallicheri, the company’s President and Chief Executive Officer as the new principal financial officer, with immediate effect.
Ms. Nallicheri took over as CEO and President of the company in Sep. 2021 after serving as the President and Chief Operating Officer of its wholly owned subsidiary EQRx International since Aug. 2019.
With its Q3 2022 results, EQRx (EQRX), which promised to revolutionize drug pricing, announced a market-based pricing model for lead assets aumolertinib and lerociclib. Seeking Alpha contributor Derek Lowe breaks down the decision, which led to a selloff in the stock in November.