ADMA Biologics (NASDAQ:ADMA), Inc., a biopharmaceutical company, announced changes to its Board of Directors, including the departure of a long-serving member and the appointment of new roles within its committees. Bryant E. Fong resigned from the Board and its committees on Monday, citing a need to focus on his other professional commitments.
Mr. Fong, who has been with the company since 2012, stepped down to devote more time to his roles at Biomark Capital Fund and Stonepine Capital Management. According to the company's statement, his resignation did not stem from any disagreements regarding the company's operations, policies, or practices.
Following Mr. Fong's departure, Young T. Kwon, PhD, was appointed as the new Chairman of the Audit Committee on the same day. Dr. Kwon has been designated as an "audit committee financial expert," a title defined by the rules of the Securities and Exchange Commission (SEC). Additionally, Steven A. Elms was named a member of the Audit Committee, and Alison C. Finger joined the Governance and Nominations Committee as well as the Compensation Committee.
These board adjustments reflect the company's ongoing commitment to strong corporate governance and oversight. The company's SEC filing on Thursday confirmed these changes, ensuring transparency and regulatory compliance.
ADMA Biologics, headquartered in Ramsey, New Jersey, specializes in the manufacture of plasma-based biologics for the treatment and prevention of infectious diseases. The company is listed on the Nasdaq Global Market under the ticker symbol NASDAQ:ADMA.
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