Idorsia Ltd (IDRSF,IDIA.SW), a Swiss biopharmaceutical company, announced that Srishti Gupta will step down from her roles as Chief Executive Officer and from the board of directors.
Until a successor is appointed, Jean-Paul Clozel, Chairman of the board, will serve as the interim CEO and assume responsibility for day-to-day operations. Following the news, IDIA is plunging 11.76% at 3 Swiss Francs.
The Board has initiated the search process to identify a new CEO, and will soon propose the election of new independent candidates at the upcoming Annual General Meeting of shareholders.
Jean-Paul said, "We have initiated the search for a new CEO with extensive pharmaceutical leadership experience and strong commercial expertise."
The company has a clinical development pipeline across various therapeutic areas, including the Central Nervous System, cardiovascular, immunological disorders, and orphan diseases.
In the full-year 2025 results reported in February, the firm incurred a net loss of 112 million CHF, or 0.52 CHF per share, narrower than the net loss of 264 million CHF, or 1.45 CHF per share, reported a year ago.
Idorsia's approved products include QUVIVIQ (daridorexant) for insomnia and TRYVIO (aprocitentan) for systemic hypertension in combination with other antihypertensives.
The firm's net revenue for 2025 increased to 221 million Francs from 113 million Francs in the year-ago period.
For the full year 2026, QUVIVIQ sales are expected to be 200 million Francs, and adjusted net loss is expected to be 120 million Francs.
IDIA.SW has traded between 0.85 CHF and 4.85 CHF in the last year. The stock closed Friday's trade at 3.40 Francs.
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