Eiger BioPharmaceuticals, a commercial-stage biopharmaceutical company, announced on Wednesday the appointment of William G. Kachioff as Chief Financial Officer and James A. Vollins as General Counsel, Chief Compliance Officer, and Corporate Secretary. The company, which is focused on developing innovative therapies for hepatitis delta virus (HDV) and other serious diseases, said the appointments come at a crucial time as they complete their program prioritization analyses to assess the most promising drivers of shareholder value.
Kachioff and Vollins Bring Proven Track Records to Eiger
Eiger’s Interim CEO, David Apelian, MD, PhD, said in a statement that both Kachioff and Vollins have a proven track record of delivering results and creating significant shareholder value. Kachioff is highly experienced in corporate finance, investor relations, capital formation, corporate governance, and manufacturing accounting and systems, with over 30 years of life sciences industry experience. Meanwhile, Vollins is an experienced public company, biotechnology, and healthcare compliance attorney with significant executive leadership experience and a focus on scaling high-quality biotech companies and best-in-class compliance programs.
Kachioff Excited to Join Eiger
“I’m thrilled to join Eiger given the company’s deep pipeline of promising innovative agents to treat rare diseases,” said Kachioff. “This deep pipeline has the potential to provide tremendous optionality to build shareholder value. I look forward to contributing to the company’s near-term prioritization process as well as helping the company execute its strategic plan and deliver value for its shareholders.”
Vollins Honored to Lead Eiger’s Legal and Compliance Organization
“I am honored by the opportunity to lead Eiger’s legal and compliance organization in our mission to develop innovative therapies for the treatment of serious diseases,” said Vollins. “I look forward to contributing to the next phase of Eiger’s planned growth with a commitment to integrity and compliance while increasing shareholder value.”
Kachioff’s Career Highlights
Before joining Eiger, Kachioff served as interim CFO at Aduro Biotech (now Chinook Therapeutics), a publicly-traded, clinical-stage cancer immunotherapy company. He previously served as CFO at GenomeDx Biosciences (now Veracyte) and Biocept, two providers of novel cancer diagnostic services. Before that, he was CFO at Althea Technologies (now Ajinomoto Bio-Pharma), a pharmaceutical contract manufacturer. Kachioff has also served as CFO at MicroIslet, a publicly-traded biotech company developing cell transplant therapies for insulin-dependent diabetes, and was Director of Finance at Cutera, where he prepared the company for the commercial launch of its first product and its initial public offering.
Vollins’ Career Highlights
Prior to joining Eiger, Vollins was General Counsel, Chief Compliance Officer, and Corporate Secretary at BioDelivery Sciences International, Inc. Before that, he was General Counsel, Chief Compliance Officer, and Corporate Secretary at Bio Products Laboratory Limited. Vollins also served in a variety of roles with increasing responsibility at Grifols Inc., Talecris Biotherapeutics, Inc., and Pfizer Inc. His career highlights include several significant M&A transactions, numerous successful drug launches, and the IPO of Talecris Biotherapeutics, Inc. He began his legal career as a commercial litigator and has tried cases and argued appeals in state and federal courts throughout the U.S.
Eiger’s Focus on HDV and Rare Diseases
Eiger is focused on developing innovative therapies for HDV and other serious diseases. HDV is a virus that infects the liver and is considered one of the most severe forms of viral hepatitis. There is currently no approved therapy for HDV, and Eiger is developing peginterferon lambda, a novel type III interferon, for the treatment of chronic HDV infection. The company also has programs in clinical development for the treatment of COVID-19, pulmonary arterial hypertension, and lymphedema.
Eiger’s Recent Financial Performance
Eiger recently reported its fourth quarter and full-year 2022 financial results. The company reported total revenues of $11.7 million for the year ended December 31, 2022, compared to $5.5 million for the year ended December 31, 2021. The increase in revenue was primarily due to an increase in collaboration revenue related to the company’s COVID-19 and HDV programs. The company’s net loss for the year ended December 31, 2022, was $104.9 million, or $2.84 per share, compared to a net loss of $96.3 million, or $3.42 per share, for the year ended December 31, 2021.
Investors React to Executive Appointments
Investors seemed to react positively to the news of Kachioff and Vollins’ appointments, with Eiger’s stock price up over 2% in early trading on Wednesday. The company’s shares have been on a bit of a rollercoaster ride over the past year, with a 52-week high of $19.45 and a low of $5.34. The stock is currently trading around $10 per share.
Eiger’s Future Outlook
With the recent executive appointments, Eiger is poised to continue its focus on developing innovative therapies for HDV and other serious diseases. The company’s pipeline of programs is deep, and Kachioff and Vollins bring a wealth of experience to the executive team. Eiger’s focus on rare diseases and unmet medical needs has the potential to deliver significant shareholder value in the years to come. As the company continues to advance its programs and prioritize its pipeline, investors will be watching closely to see how Eiger’s story unfolds.