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- Established executive with over 25 years of strategic financial leadership experience across small to large-size clinical and commercial-stage Pharma companies
TYME Technologies, Inc. (Nasdaq: TYME) (the "Company" or "Tyme"), an emerging biotechnology company developing cancer metabolism-based therapies (CMBTs™), today announced that it has appointed Frank L. Porfido as its Chief Financial Officer, effective shortly after the Company files its annual report on Form 10-K.
Mr. Porfido is a well-established biotech and pharmaceutical industry executive with over 25 years of strategic financial leadership expertise. Throughout his career, Mr. Porfido has demonstrated a track record of building and leading cross-functional teams. Collectively, he spent over 15 years at Novartis in various leadership roles, including serving as the Global Head of Finance for their Oncology Business Unit and Head of Global Finance for their Oncology Translational Medicines (OTM) Unit. He was responsible for developing its global strategic plan for a $15 billion business unit and in his OTM position he was a member of a leadership team that managed the early-stage Oncology pipeline.
"The appointment of our Chief Financial Officer is an important milestone for the Company as we are diligently working to finalize the strategic review of our pipeline development programs. We are pleased to have garnered the attention of such a well-suited candidate and welcome Frank to our executive management team to fill this important role," commented Richie Cunningham, Chief Executive Officer of TYME. "His appointment comes at a perfect time and we believe his leadership and expertise will be an invaluable component as we position the Company moving forward and execute on the strategies ahead. With the addition of Frank, I believe we now have the right team in place to successfully unlock the full potential and vision of TYME. We look forward to providing more updates as we rollout the results from our strategic review in June."
Mr. Porfido added, "TYME is poised for a transformational year and I am excited to join the team at such a pivotal time in the Company’s history. I believe there is tremendous potential for the Company ahead and the expertise developing and implementing strategic business plans that I’ve gathered over the course of my career will help to provide the necessary insight as TYME advances its efforts. I look forward to hitting the ground running and helping the team build momentum in the near and long term."
Most recently, Mr. Porfido served as the Vice President, Finance for UroGen Pharma, Inc., biopharmaceutical company dedicated to building novel solutions that treat specialty cancers and urologic diseases. While there, he was responsible for day-to-day operations of Finance and played a key role in the launch of the company’s first commercial product. Prior to that, he served in various roles at Novartis including U.S. Country Chief Financial Officer for its Ophthalmology Business Unit, Infectious Disease Transplant Business Unit, and U.S. Oncology Business Unit.
Mr. Porfido is a Certified Public Accountant and received his BBA in Accounting-CPA Prep from Pace University, his MBA in Finance from Farleigh Dickinson University.
About TYME Technologies, Inc.
TYME Technologies, Inc. is an emerging biotechnology company developing cancer metabolism-based therapies (CMBTs™) that are intended to be broadly effective across tumor types and have low toxicity profiles. Unlike targeted therapies that attempt to regulate specific mutations within cancer, the Company’s therapeutic approach is designed to take advantage of a cancer cell’s innate metabolic weaknesses to compromise its defenses, leading to cell death through oxidative stress and exposure to the body’s natural immune system. With the development of TYME-18 and TYME-19, the Company believes that it is also emerging as a leader in the development of bile acids as potential therapies for cancer and viruses such as COVID-19. For more information, visit www.tymeinc.com. Follow us on social media: Facebook, LinkedIn, Twitter, YouTube and Instagram.
In addition to historical information, this press release contains forward-looking statements under the Private Securities Litigation Reform Act that involve substantial risks and uncertainties. Such forward-looking statements within this press release include, without limitation, statements regarding our drug candidates (including SM-88 and TYME- 18) and their clinical potential and non-toxic safety profiles, our drug development plans and strategies, ongoing and planned preclinical or clinical trials, including the proposed TYME-19 proof-of-concept study, preliminary data results and the therapeutic design and mechanisms of our drug candidates. The words "believes," "expects," "hopes," "may," "will," "plan," "intends," "estimates," "could," "should," "would," "continue," "seeks," "anticipates," and similar expressions (including their use in the negative) are intended to identify forward-looking statements. Forward-looking statements can also be identified by discussions of future matters such as: the effect of the novel coronavirus (COVID-19) pandemic and the associated impact on the national and global economy as well as impacts on the Company's ongoing clinical trials and ability to analyze data from those trials; the cost of development and potential commercialization of our lead drug candidate and of other new products; expected releases of interim or final data from our clinical trials; possible collaborations; and the timing, scope, status, objectives and strategy of our ongoing and planned trials; the success of management transitions; and other statements that are not historical. The forward-looking statements contained in this press release are based on management’s current expectations and projections which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. These statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any historical results and future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include but are not limited to: the severity, duration, and economic and operational impact of the COVID-19 pandemic; that the information is of a preliminary nature and may be subject to change; uncertainties inherent in the cost and outcomes of research and development, including the cost and availability of acceptable-quality clinical supply, and in the ability to achieve adequate start and completion dates, as well as uncertainties in clinical trial design and patient enrollment, dropout or discontinuation rates; the possibility of unfavorable study results, including unfavorable new clinical data and additional analyses of existing data; risks associated with early, initial data, including the risk that the final data from any clinical trials may differ from prior or preliminary study data; final results of additional clinical trials that may be different from the preliminary data analysis and may not support further clinical development; that past reported data are not necessarily predictive of future patient or clinical data outcomes; whether and when any applications or other submissions for SM-88 or other drug candidates may be filed with regulatory authorities; whether and when regulatory authorities may approve any applications or submissions; decisions by regulatory authorities regarding labeling and other matters that could affect commercial availability of SM-88 or other drug candidates; the ability of TYME and its collaborators to develop and realize collaborative synergies; competitive developments; and the factors described in the section captioned "Risk Factors" of TYME’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on May 22, 2020 and its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on February 3, 2021 as well as subsequent reports we file from time to time with the U.S. Securities and Exchange Commission available at www.sec.gov.
The information contained in this press release is as of its release date and TYME assumes no obligation to update forward-looking statements contained in this release as a result of future events or developments.
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