Emma Walmsley joins #MeTooPay; Monopar postpones $40M IPO
→ GSK CEO Emma Walmsley has rallied together with some of the UK’s most successful businesswomen to highlight the pay discrimination they face in comparison to their male counterparts in the campaign #MeTooPay. The website lamented the frustrations of the women, stating, “we’re frustrated to still read stories about women not getting the pay they deserve. Women should not be paid less than men to do exactly the same job. It’s just wrong.”
Walmsley’s paycheck is one of the lowest in the industry — last year earning a $1.3 million raise with her total remuneration being $7.67 million — trailing behind her male peers.
→ Almost a month after Christopher Starr co-founder Monopar Therapeutics announced the terms for a $40 million IPO, the company is now postponing it, citing market conditions. The company had filed to offer 4.4 million shares at the price range of $8 to $10 and planned to list under the ticker $MNPR.
→ VIVUS has paid down $48.6 million of its Senior Secured Notes due in 2024. CEO of VIVUS, John Amos, said: “The $48.6 million repayment announced today is the first of these steps and will result in a net savings of interest of $10.5 million over the remaining term of the loan.” In addition, the company announced the departure of two of their execs — president Ken Suh and COO Scott Oehrlein.
→ Months after Verastem nabbed approval for its PI3K drug duvelisib (Copiktra), the company received more good news this morning with the securing of orphan designation for the drug for the treatment of T-Cell lymphoma. Currently, Copiktra is approved for the treatment of chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL) after at least 2 prior therapies and accelerated approval in follicular lymphoma (FL) after at least 2 prior systemic therapies in the US.