CombiMatrix Corporation (Nasdaq:CBMX), a molecular diagnostics
company performing DNA-based testing services for cancer and
developmental disorders, today announced that Mark McDonough,
currently the Company's Chief Commercial Officer, will become Chief
Executive Officer following the retirement of CEO R. Judd Jessup,
who has announced his retirement, effective March 15, 2013.
McDonough, a resident of San Diego, came to CombiMatrix in 2012
with more than 15 years of experience in sales and business
development with a specialty in diagnostics. McDonough previously
worked for Fortune 500 companies (EMC and Lab Corp) as well as
successful emerging companies (Ventana Medical Systems) and
startups (Pathwork Diagnostics).
Jessup was named CEO in 2010 when CombiMatrix was in the midst
of a transition phase from a manufacturing company to a diagnostics
lab and services organization. Jessup recently refocused
CombiMatrix's commercial efforts on prenatal and pediatric testing
in response to the growing demand for molecular diagnostic testing
in those specialties. Part of that strategic and operational shift
included the recruitment of McDonough last year to lead the
Company's commercial efforts.
"In his time at CombiMatrix, McDonough, (age 43), has been
responsible for building a robust sales structure to accommodate
the new strategic focus and effectively transitioning, equipping
and training that team," Jessup said. "We brought Mark in to build
and lead our sales team and he has done everything we expected and
more. My role at Combimatrix was to lead during the transition to a
pure-play diagnostics lab. With that transition complete, we have
now refocused the organization on key markets where we are seeing
rapid growth and Mark has led that execution over the past eight
months. I believe the Company is headed in the right direction, is
building momentum and is in very capable hands."
For four years before joining CombiMatrix last August, McDonough
was Vice President, Sales, Customer Service and Training at Redwood
City, CA-based Pathwork Diagnostics. He grew sales each year
in that role, served on the executive steering committee and was
actively involved in all strategic commercial initiatives.
"This is a tremendous opportunity for me to lead a Company that
we believe is well-positioned with a broad opportunity for
success," McDonough said. "We have a focused strategy and are
building a talented, experienced sales and marketing team. At this
point, it's all about execution in the coming periods and
continuing to ramp the prenatal testing business. If we continue to
execute as we have in recent months, we believe CombiMatrix will
gain more market share, capitalize on markets that are now trending
in our direction and, importantly, grow shareholder value."
Prior to Pathwork, from 2002-2008, McDonough worked for Irvine,
CA-based USLabs/Dianon (when USLabs was acquired by LabCorp) and
ultimately became Vice President of Sales. During his time there,
he led a 56-member sales team, led various sales and marketing
initiatives and helped drive a turnaround effort during a
management overhaul.
McDonough received a Bachelor's Degree in Finance from Miami
University in Oxford, Ohio.
About CombiMatrix Corporation
CombiMatrix Corporation, through its wholly owned subsidiary,
CombiMatrix Molecular Diagnostics, Inc. (CMDX), is a molecular
diagnostics laboratory which offers DNA-based testing services to
the prenatal, pediatric and oncology markets. The Company
performs genetic testing utilizing Microarray, FISH, PCR and G-Band
Chromosome Analysis. CMDX offers prenatal and pediatric
testing services for the detection of abnormalities of genes at the
DNA level beyond what can be identified through traditional
technologies. CMDX was also the first commercial clinical
laboratory in the United States to make comprehensive DNA-based
genomic analysis of solid tumors, including breast, colon, lung,
prostate and brain tumors, available to oncology patients and
medical professionals. Additional information about CMDX is
available at www.cmdiagnostics.com or by calling
1-800-710-0624.
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These statements are
based upon our current expectations, speak only as of the date
hereof and are subject to change. All statements, other than
statements of historical fact included in this press release, are
forward-looking statements. Forward-looking statements can
often be identified by words such as "anticipates," "expects,"
"intends," "plans," "goal," "predicts," "believes," "seeks,"
"estimates," "may," "will," "should," "would," "could,"
"potential," "continue," "ongoing," similar expressions, and
variations or negatives of these words and include, but are not
limited to, statements regarding projected results of operations
and management's future business, operational and strategic plans,
momentum of our pre-natal and pediatric businesses, test menu
expansion, services and reports development and attracting greater
prenatal genetic screening business. These forward-looking
statements are not guarantees of future results and are subject to
risks, uncertainties and assumptions that could cause our actual
results to differ materially and adversely from those expressed in
any forward-looking statement. The risks and uncertainties
referred to above include, but are not limited to: our ability to
gain more market share, capitalize on markets and grow shareholder
value; our ability to successfully expand the base of our customers
and strategic partners, add to the menu of our diagnostic tests in
both of our primary markets, develop and introduce new tests and
related reports, optimize the reimbursements received for our
testing services, and increase operating margins by improving
overall productivity and expanding sales volumes; our ability to
successfully accelerate sales, steadily increase the size of our
customer rosters in both developmental medicine and oncology; lack
of growth in the developmental markets; our ability to attract and
retain a qualified sales force; rapid technological change in our
markets; changes in demand for our future products; the ability of
microarray technology to become the standard of care; legislative,
regulatory and competitive developments; general economic
conditions; and various other factors. Further information on
potential factors that could affect our financial results is
included in our Annual Report on Form 10-K, Quarterly Reports of
Form 10-Q, and in other filings with the Securities and Exchange
Commission. We undertake no obligation to revise or update
publicly any forward-looking statements for any reason, except as
required by law.
CONTACT: Company Contact:
R. Judd Jessup
President & CEO, CombiMatrix Corporation
Tel (949) 753-0624
Media Contact:
Len Hall
VP, Media Relations
Allen & Caron
Tel (949) 474-4300
len@allencaron.com
Investor Relations Contact:
John Baldissera
BPC Financial Marketing
Tel (800) 368-1217
Combimatrix Corp. (MM) (NASDAQ:CBMX)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Combimatrix Corp. (MM) (NASDAQ:CBMX)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024