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Orchid Stock Up More Than 9 Percent Since CFO Announced Resignation Yesterday

NEW YORK, Dec. 9 (GenomeWeb News) - Shares in Orchid Biosciences were up 6.13 percent at $11.94 in mid-afternoon trading one day after the company announced that CFO Mike Spicer has resigned.

 

In all, the shares have climbed 9.5 percent since Orchid made the announcement on Wednesday.

Orchid said Spicer, who is also senior vice president of finance at the firm, said he plans to join a publicly traded biopharmaceutical company. The company has promoted Joseph Warusz to vice president of financial planning and analysis, and has given him "additional financial oversight" until a replacement for Spicer has been found.

 

In the same statement, Orchid reiterated its revenue expectation of about $60 million for the fourth quarter.

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