CTI brings in Monique Greer to head IR department
Monique Greer joins CTI as vice president, heading up both the corporate communications and investor relations departments and reporting directly to James Bianco, president and CEO.
‘Monique is a key hire to drive consistent communications globally, as we transition from a product development organization to a commercial organization,’ says Bianco in a company press release announcing Greer’s appointment.
‘She has an excellent reputation in the biotechnology industry for developing and executing strategic, results-driven communications programs that advance business objectives. We believe her recent hematology/oncology commercial experience, management discipline and entrepreneurial drive will serve CTI well as we execute on our global strategy to deliver results for both patients and shareholders.’
Greer – who has 17 years’ experience in biotech/healthcare communications and IR – joins the company after almost four years at Allos Therapeutics, another anti-cancer biopharmaceuticals firm. She replaces Daniel Eramian, who left CTI on November 15.
The NASDAQ-listed firm, which uses genetics to develop personalized cancer treatments, says it may never become profitable. In its 2011 year-end results, the company explains: ‘We were incorporated in 1991 and have incurred a net operating loss every year since our formation. As of December 31, 2011, we had an accumulated deficit of $1.7 bn.
‘We will need to conduct research, development, testing and regulatory compliance activities and undertake manufacturing and drug supply activities, the costs of which, together with projected general and administrative expenses, may result in operating losses for the foreseeable future. We may never become profitable even if we are able to commercialize products currently in development or otherwise.’
CTI did, however, reduce its net loss in Q3 2012 compared with the same period last year.