Healthcare Industry News: Nabi-HB
News Release - January 30, 2006
Nabi Biopharmaceuticals' Mark L. Smith Resigns as Company's CFO, Effective on or Around March 1, 2006Search for New CFO Underway
BOCA RATON, Fla., Jan. 30 (HSMN NewsFeed) -- Nabi Biopharmaceuticals (Nasdaq: NABI ) announced today that Mark L. Smith has given notice to resign from his position as the company's chief financial officer, effective on or around March 1, 2006. He is leaving Nabi Biopharmaceuticals to accept another career opportunity. Mr. Smith will continue to direct the 2005 compliance testing, coordinate the external audit effort and oversee the filing of the company's Form 10-K. He will also support transitional activities. An active search for a new chief financial officer is underway.
"Over the past several years Mark's dedication, loyalty and contributions to Nabi Biopharmaceuticals have been unmatched. His leadership qualities and astute abilities in finance and accounting have enabled him to make significant and strategic contributions to our company's advancement. I also want to thank him for putting a capable team into place and for developing the internal competencies we will continue to leverage as we look to expand these areas and attract new leadership. We wish Mark and his family well," said Thomas H. McLain, chairman, chief executive officer and president, Nabi Biopharmaceuticals.
About Nabi Biopharmaceuticals
Nabi Biopharmaceuticals leverages its experience and knowledge in powering the immune system to develop and market products that fight serious medical conditions. We are focusing on developing products addressing commercial opportunities in our core business areas: Gram-positive bacterial infections, hepatitis, kidney disease (nephrology), and nicotine addiction. We have three products on the market today: PhosLo® (calcium acetate), Nabi-HB® [Hepatitis B Immune Globulin (Human)], and Aloprim(TM) [Allopurinol sodium (for injection)] and a number of products in various stages of clinical and pre-clinical development. The company also filed Marketing Authorization Applications (MAA) in Europe to market Nabi-HB® Intravenous [Hepatitis B Immune Globulin (Human) Intravenous] under the trade name HEBIG(TM) for the prevention of hepatitis B disease in HBV-positive liver transplant patients; and for PhosLo, which is already marketed in the United States. The company's products in development include NicVAX(TM) (Nicotine Conjugate Vaccine), a vaccine to treat nicotine addiction, and Civacir(TM) [Hepatitis C Immune Globulin (Human)], an antibody for preventing hepatitis C virus re-infection in liver transplant patients. For additional information on Nabi Biopharmaceuticals, please visit our website: http://www.nabi.com .
This press release contains forward-looking statements that reflect the company's current expectations regarding future events. Any such forward- looking statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may differ significantly from those in the forward-looking statements as a result of any number of factors, including, but not limited to risks relating to the company's ability to: advance the development of products currently in the pipeline or in clinical trials; complete the assessment of the StaphVAX Phase III clinical trials during the first half of 2006; maintain the human and financial resources to commercialize current products and bring to market products in development; obtain regulatory approval for its products in the U.S. or other markets; successfully develop manufacture and market its products; utilize the full capacity of its manufacturing facility; realize the value of its acquisition of PhosLo; realize sales from Nabi-HB due to patient treatment protocols and the number of liver transplants performed in HBV-positive patients; realize the value from its vaccine manufacturing facility; realize future sales growth for its biopharmaceutical products; prevail in patent litigation; raise additional capital on acceptable terms; re-pay its outstanding convertible senior notes when due; and the company's dependence upon: third parties to manufacture its products and a small number of customers. Many of these factors are more fully discussed, as are other factors, in the company's Annual Report on Form 10-K for the fiscal year ended December 25, 2004 filed with the Securities and Exchange Commission.
Source: Nabi Biopharmaceuticals
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