Amarantus Bioscience Holdings Inc (OTCMKTS:AMBS) was a notable mover in the overnight trading session The stock rallied by close to 13 percent on the back of 9 times the daily average volumes indicative of the shift of momentum towards the buy side. The stock has been in a strong downtrend over the last year and has underperformed the broader indices. The price volume action seen during overnight trade meant that the relative strength index for the stock gave a fresh buy signal, which is a bullish sign. Traders believe the stock could head to levels of $0.80 in the near term.
AMARANTUS BIOSCIENCE HOLDINGS, INC. (OTCBB:AMBS) has made some changes in its senior leadership team to ensure that it can live up to investors’ expectations. As per the reports, Curtis Scribner, MD MBA has been appointed as the new Vice President of company’s regulatory affairs.
Amarantus Bioscience is best known for developing diagnostic and therapeutic product candidates in neurology and orphan indications.
Insights of This Decision
The prime objective of Amarantus behind appointing Scribner is to use his experience in this field and live up to investors’ expectations. He brings over 20 years of experience in the regulatory development field in U.S. and other countries, which makes it easy for the company to achieve its objectives. At Amarantus, he will be primarily involved in creating worldwide regulatory pathways that can lead to the market for ESS (Engineered Skin Substitute). It’s used in the treatment of pediatric and adult severe burns and Congenital Giant Hairy Nevus.
While addressing to reporters post this announcement, Dr. Curtis Scribner, said that he’s pleased to join Amarantus at a time when it’s trying to bring back ESS Program into clinical development.
As of now, Dr. Scribner works as an independent regulatory consultant. Not long ago, he was appointed as the SVP of Medical and Regulatory Affairs at RRD International, LLC. His work history validates him as the board certified physician; however, he also has significant experience in the development and running of large and small programs.
Before he joined hands with RRD, he was the Chief Regulatory Officer and President of Quality and Regulatory Affairs at Intarcia Therapeutics. He also worked with Quintiles Consulting as its Chief Regulatory Consultant and contributed to the development of many NDA, IND, BLA, IDE, PMA, 510(k), and MAA applications.
The senior management of Amarantus is delighted to have him on board and hopes that he will use his immense experience to revamp company’s regulatory vertical.