Biotech's very bad start to the year con­tin­ues as mi­cro­cap gene ther­a­py play­er Sio ditch­es CEO, lead part­ner­ship

In a biotech mar­ket hit from top to bot­tom by dwin­dling in­vestor sen­ti­ment, small firms, in par­tic­u­lar, are bear­ing the brunt of the bur­den. Now, a tiny gene ther­a­py play­er is re­think­ing its di­rec­tion and cut­ting away a key part­ner­ship to make ends meet.

Sio Gene Ther­a­pies has el­e­vat­ed CFO David Nas­sif in­to the in­ter­im CEO role as it says good­bye to cur­rent helms­man Pa­van Cheru­vu, who has left the com­pa­ny to “pur­sue new op­por­tu­ni­ties,” the biotech said Mon­day.

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