Healthcare Industry News: Oncotype DX
News Release - January 8, 2009
Genomic Health Announces Management Changes and New ResponsibilitiesRandy Scott moves to full-time executive chairman role, Kimberly Popovits appointed chief executive officer and Bradley Cole named chief operating officer
Company to present at 2009 JP Morgan Healthcare Conference
REDWOOD CITY, Calif., Jan. 8 (Healthcare Sales & Marketing Network) -- Genomic Health, Inc. (Nasdaq: GHDX ) today announced the appointment of Kimberly J. Popovits as chief executive officer. Formerly president and chief operating officer, Popovits is now the president and CEO of Genomic Health. In addition, G. Bradley Cole has been appointed as chief operating officer and will continue to serve as the company's chief financial officer, reporting to Popovits.
"Kim's appointment as CEO reflects her unique experience and passion to lead all aspects of our business, as I turn my focus to the longer-term strategy and vision of the organization. This transition marks an important milestone for the company, reflecting our leadership and success in delivering personalized medicine to patients," said Randy Scott, chairman of Genomic Health. "Brad's increasing responsibility as COO recognizes his contribution to the operations of the company and further strengthens our ability to deliver our services to physicians and patients around the world. I look forward to working with Kim, Brad and our entire management team as we continue our efforts to expand worldwide commercialization of the Oncotype DX breast cancer assay, advance our research and development pipeline, and move the organization toward profitability."
In addition to Scott, Popovits and Cole, members of the Genomic Health management team include Steve Shak, chief medical officer; Joffre Baker, chief scientific officer; David Logan, senior vice president of worldwide commercialization; Tricia Tomlinson, senior vice president of human resources; and Laura Leber, vice president of corporate communications.
Prior to her appointment as president and CEO, Popovits served as president and COO since joining Genomic Health in February 2002, and as a director since March 2002. Previously, Popovits served in various roles at Genentech, Inc., most recently as senior vice president, marketing and sales. She holds a B.A. in business from Michigan State University.
Cole joined Genomic Health in 2004 as executive vice president and chief financial officer and was named executive vice president, operations, and chief financial officer in January 2008. Previously, Cole served in various senior management positions at Guidant Corporation and Applied Biosystems Incorporated. Cole holds a B.S. in business from Biola University and an M.B.A. from San Jose State University.
Genomic Health will present at the 27th Annual JPMorgan Healthcare Conference in San Francisco, CA on Wednesday, January 14 at 10:30 a.m. Pacific Time. To access the live and subsequently archived webcast of the presentation, visit the Investor Relations section of Genomic Health's website at http://investor.genomichealth.com. Please connect to the website at least 15 minutes prior to the beginning of the presentation to allow for any necessary software downloads. An archived replay will be available for three months beginning 24 hours after the live presentation.
About Genomic Health
Genomic Health, Inc. (Nasdaq: GHDX ) is a life science company focused on the development and commercialization of genomic-based clinical laboratory services for cancer that allow physicians and patients to make individualized treatment decisions. In 2004, Genomic Health launched its first test, Oncotype DX®, which has been shown to predict the likelihood of breast cancer recurrence and the likelihood of chemotherapy benefit in a large portion of early-stage breast cancer patients. The company was founded in 2000 and is located in Redwood City, California. For more information, please visit http://www.genomichealth.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the ability of the company to continue its efforts to expand worldwide commercialization of the Oncotype DX breast cancer assay, to advance its research and development pipeline and to move the company toward profitability, and the company's belief that Mr. Cole's appointment as COO further strengthens the company's ability to deliver its services to patients and physicians around the world. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, but are not limited to: the results of additional clinical studies; the applicability of clinical study results to actual outcomes; the risk that we may not obtain or maintain sufficient levels of reimbursement for our test; the risks and uncertainties associated with the regulation of our tests by FDA; our ability to develop new tests; unanticipated costs or delays in research and development efforts; our ability to continue to narrow our net loss; our ability to obtain capital when needed; our history of operating losses and the other risks set forth in our filings with the Securities and Exchange Commission, including the risks set forth in our Quarterly Report on Form 10-Q for the three-month period ended September 30, 2008. These forward-looking statements speak only as of the date hereof. Genomic Health disclaims any obligation to update these forward-looking statements.
NOTE: The Genomic Health logo, Oncotype, Oncotype DX and Recurrence Score are trademarks or registered trademarks of Genomic Health, Inc. All other trademarks and service marks are the property of their respective owners.
Source: Genomic Health
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