Alpha Tau Announces Resignation of Gary Leibler from its Board of Directors
On June 7, 2022, Alpha Tau Medical Ltd. (Nasdaq: DRTS) announced the resignation of board member Gary Leibler, effective immediately. His departure is cited as unrelated to the company’s performance. CEO Uzi Sofer expressed gratitude for Leibler’s significant contributions since the company's inception. Despite his resignation, Leibler remains optimistic about Alpha Tau’s prospects, especially following its successful NASDAQ public listing, which provided essential capital for advancing its innovative Alpha DaRT cancer treatment technology.
- Leibler's resignation allows for potential new board members bringing fresh perspectives.
- Successful NASDAQ listing raised significant capital for future growth.
- Potential concerns about continuity and experience with the board's composition.
- Leibler's departure could lead to gaps in strategic guidance.
JERUSALEM, June 7, 2022 /PRNewswire/ -- Alpha Tau Medical Ltd. (Nasdaq: DRTS) (Nasdaq: DRTSW), ("Alpha Tau" or the "Company"), the developer of the innovative alpha-radiation cancer therapy Alpha DaRT™, announced today that Mr. Gary Leibler has resigned from the Company's board of directors and its audit committee, for reasons unrelated to the Company.
"I wish to thank Gary for his years of dedicated service to the Company, as a member of the board of directors since the early days of Alpha Tau," commented Alpha Tau CEO Uzi Sofer. "He has added tremendous value ever since his first day with us, and we have benefitted greatly from his expertise and experience."
Gary Leibler, who also serves as the founder and managing partner of Shavit Capital, added, "After serving as a board member of Alpha Tau for a number of years, I have decided to resign for personal reasons. I am more confident than ever that Alpha Tau is on the path to becoming a leading company in the treatment of cancer patients throughout the world. During its recent public listing on NASDAQ, Alpha Tau raised a meaningful amount of capital, which is expected to provide a platform for the Company to realize its clinical and technological potential. I wish the Company and its management the best of luck in their continued endeavors."
About Alpha DaRT™
Alpha DaRT™ (Diffusing Alpha-emitters Radiation Therapy) is designed to enable highly potent and conformal alpha-irradiation of solid tumors by intratumoral insertion of radium-224 impregnated seeds. When the radium decays, its short-lived daughters are released from the seed, and disperse while emitting high-energy alpha particles with the goal of destroying the tumor. Since the alpha-emitting atoms diffuse only a short distance, Alpha DaRT aims to mainly affect the tumor, and to spare the healthy tissue around it.
About Alpha Tau Medical Ltd.
Founded in 2016, Alpha Tau is an Israeli medical device company that focuses on research, development, and potential commercialization of the Alpha DaRT for the treatment of solid tumors. The technology was initially developed by Prof. Itzhak Kelson and Prof. Yona Keisari from Tel Aviv University.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. When used herein, words including "anticipate," "being," "will," "plan," "may," "continue," and similar expressions are intended to identify forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. All forward-looking statements are based upon Alpha Tau's current expectations and various assumptions. Alpha Tau believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. Alpha Tau may not realize its expectations, and its beliefs may not prove correct. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various important factors, including, without limitation: (i) Alpha Tau's ability to receive regulatory approval for its Alpha DaRT technology or any future products or product candidates; (ii) Alpha Tau's limited operating history; (iii) Alpha Tau's incurrence of significant losses to date; (iv) Alpha Tau's need for additional funding and ability to raise capital when needed; (v) Alpha Tau's limited experience in medical device discovery and development; (vi) Alpha Tau's dependence on the success and commercialization of the Alpha DaRT technology; (vii) the failure of preliminary data from Alpha Tau's clinical studies to predict final study results; (viii) failure of Alpha Tau's early clinical studies or preclinical studies to predict future clinical studies; (ix) Alpha Tau's ability to enroll patients in its clinical trials; (x) undesirable side effects caused by Alpha Tau's Alpha DaRT technology or any future products or product candidates; (xi) Alpha Tau's exposure to patent infringement lawsuits; (xii) Alpha Tau's ability to comply with the extensive regulations applicable to it; (xiii) the ability to meet Nasdaq's listing standards; (xiv) costs related to being a public company; (xv) changes in applicable laws or regulations; (xix) impacts from the COVID-19 pandemic; and the other important factors discussed under the caption "Risk Factors" in Alpha Tau's Annual Report on Form 20-F filed with the SEC on March 28, 2022, and other filings that Alpha Tau may make with the United States Securities and Exchange Commission. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. While Alpha Tau may elect to update such forward-looking statements at some point in the future, except as required by law, it disclaims any obligation to do so, even if subsequent events cause its views to change. These forward-looking statements should not be relied upon as representing Alpha Tau's views as of any date subsequent to the date of this press release.
Investor Relations Contact:
IR@alphatau.com
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SOURCE Alpha Tau Medical
FAQ
What prompted Gary Leibler's resignation from Alpha Tau Medical's board?
How might Gary Leibler's resignation affect Alpha Tau Medical?
What financial implications did Alpha Tau Medical face following its NASDAQ listing?
Is Alpha Tau Medical still focused on developing Alpha DaRT after the board change?
