Emmaus Life Sciences Announces Willis C. Lee as Chief Executive Officer

Rhea-AI Summary

Emmaus Life Sciences (OTCMarkets: EMMA), a leader in sickle cell disease treatment, has appointed Willis C. Lee as its new Chief Executive Officer. Lee, previously serving as Co-President and Chief Operating Officer, will retain his position as Chairman of the Board. The company is focusing on improving operational efficiency and preparing for challenges posed by the launch of generic L-glutamine.

Lee emphasized plans to grow market presence in the Middle East and invest in research to expand pipelines and increase company value. He committed to working closely with the Board, restructured teams, and stakeholders to justify their trust in the company's future.

Positive

• Appointment of experienced executive Willis C. Lee as CEO
• Focus on improving operational efficiency
• Plans to expand market presence in the Middle East
• Commitment to invest in research for pipeline expansion

Negative

• Potential challenges from the launch of generic L-glutamine
• Need for company-wide reorganization suggests previous inefficiencies

TORRANCE, Calif., July 23, 2024 /PRNewswire/ -- Emmaus Life Sciences, Inc. (OTCMarkets: EMMA), a leader in sickle cell disease treatment, announced that Willis C. Lee has been appointed as Chief Executive Officer.  Mr. Lee, who previously served as Co-President and Chief Operating Officer, will continue to serve as Chairman of the Board.

Mr. Lee said, "we are working hard to improve the efficiency of the company by reorganizing every level of our operations. We believe that these moves will better position us to serve our patients, clients, and shareholders, and equip us to face the challenges posed by the launch of generic L-glutamine.  As the new CEO, I will ensure that we continue to grow our market presence in the Middle East and invest in research that will expand our pipelines and increase the value of the company. In the next few months, I will work aggressively with the Board, members of the newly restructured teams, and all stakeholders to ensure that your trust in us is well justified."

About Emmaus Life Sciences
Emmaus Life Sciences, Inc. is a commercial-stage biopharmaceutical company engaged in the discovery, development, marketing and sale of innovative treatments and therapies, including those in the rare and orphan disease categories.  For more information, please visit www.emmausmedical.com.

Forward-looking Statements
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements are subject to numerous assumptions, risks and uncertainties which change over time, including uncertainties related to Emmaus' working capital and ability to carry on its existing operations and obtain needed financing and other factors previously disclosed in the company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on July 3, 2024, and actual results may differ materially.  Such forward-looking statements speak only as of the date they are made, and Emmaus assumes no duty to update them, except as may be required by law. 

Company Contact:
Emmaus Life Sciences, Inc.
Investor Relations
(310) 214-0065
IR@emmauslifesciences.com

 

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SOURCE Emmaus Life Sciences, Inc.

FAQ

Who is the new CEO of Emmaus Life Sciences (EMMA)?

Willis C. Lee has been appointed as the new Chief Executive Officer of Emmaus Life Sciences (EMMA).

What was Willis C. Lee's previous role at Emmaus Life Sciences (EMMA)?

Willis C. Lee previously served as Co-President and Chief Operating Officer at Emmaus Life Sciences (EMMA).

What are the main challenges facing Emmaus Life Sciences (EMMA) according to the July 23, 2024 announcement?

The main challenge mentioned is the launch of generic L-glutamine, which could potentially impact Emmaus Life Sciences' (EMMA) market position.

What are the key strategic focuses for Emmaus Life Sciences (EMMA) under the new CEO?

The key strategic focuses are improving operational efficiency, growing market presence in the Middle East, and investing in research to expand pipelines and increase company value.