Eagle Pharmaceuticals to Appoint Abhinav Jain to its Board of Directors
WOODCLIFF LAKE, N.J., Aug. 28, 2025 (GLOBE NEWSWIRE) -- Eagle Pharmaceuticals, Inc. (OTC:EGRX) (the "Company" or "Eagle") today announced that it has agreed to appoint Abhinav "Abi" Jain as an independent member of its Board of Directors, subject to customary onboarding procedures. Mr. Jain will be a Class III director with an initial term expiring at the Company's 2026 Annual Meeting of Stockholders and serve on the Board's Compensation Committee and Nominating and Corporate Governance Committee. In connection with Mr. Jain's planned appointment, Eagle entered into a cooperation agreement (the "Agreement") with Nantahala Capital Management, LLC (together with its affiliates, "Nantahala"), a holder of approximately 38% of the Company's outstanding shares. Pursuant to the Agreement, Eagle has also agreed to appoint a second new independent director to the Board of Directors no later than May 15, 2026.
"We look forward to welcoming Abi to our Board and to benefitting from his perspectives and experiences," said Michael Graves, Chief Executive Officer of Eagle and Executive Chairman of the Board of Directors. "We believe Abi's strategic insights will be beneficial as we continue the Company's strategy to enhance value for our stakeholders."
Mr. Jain is an Analyst at Nantahala, focused on investments in various sectors, including specialty and generic pharmaceuticals. Prior to joining Nantahala in 2019, Mr. Jain was an Associate at Angelo, Gordon &Co., an alternative asset manager based in New York from 2015-2017. At Angelo, Gordon &Co., Mr. Jain focused on private equity and structured credit investments. He graduated from Massachusetts Institute of Technology in 2012 with an S.B. in Chemical-Biological Engineering and from The Wharton School of the University of Pennsylvania in 2019 with an M.B.A. with honors in Finance and Entrepreneurial Management.
The Agreement includes customary standstill, voting and other related provisions. A copy of the Agreement will be made available on the Investor Relations section of Eagle's website.
About Eagle Pharmaceuticals, Inc.
Eagle is a fully integrated pharmaceutical company with research and development, clinical, manufacturing and commercial expertise. Eagle is committed to developing innovative medicines that result in meaningful improvements in patients' lives. Eagle's commercialized products include PEMFEXY®, RYANODEX®, BENDEKA®, BELRAPZO®, TREAKISYM® (Japan), and BYFAVO® and BARHEMSYS® through its wholly owned subsidiary Acacia Pharma Inc. Eagle's oncology and critical care pipeline includes product candidates with the potential to address underserved therapeutic areas across multiple disease states, and the company is focused on developing medicines with the potential to become part of the personalized medicine paradigm in cancer care. Additional information is available on Eagle's website at www.eagleus.com.
Forward-Looking Statements
This press release contains "forward-looking statements" regarding future events or our future financial performance. Forward-looking statements are statements that are not historical facts. Words and phrases such as "anticipated," "forward," "will," "would," "could," "may," "intend," "remain," "regain," "maintain," "potential," "prepare," "expected," "believe," "plan," "seek," "continue," "goal," "estimate," and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements with respect to Mr. Jain's appointment to the Board of Directors and the benefits thereof, the appointment of a second new independent director and the Company's ability to enhance value for its stakeholders. All such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the Company's control, which could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Such risks and uncertainties include, but are not limited to: global economic and political conditions; the Company's reliance on third parties to manufacture commercial supplies of its products and clinical supplies of its product candidates; delay in or failure to obtain regulatory approval of the Company's or its partners' product candidates and successful compliance with Federal Drug Administration, European Medicines Agency and other governmental regulations applicable to product approvals; changes in the regulatory environment; the uncertainties and timing of the regulatory approval process; whether the Company can successfully market and commercialize its products; the success of the Company's relationships with its partners; changes in applicable laws and regulations; the limitations on trading of the Company's common stock related to the Company's trading on the OTC Expert Market; the impact on the price of the Company's common stock and the Company's reputation; the Company's ability to remediate material weaknesses in its internal control over financial reporting; the Company's ability to recruit, hire and retain key personnel; the ability of the Company to realize the anticipated benefits of its plan designed to improve operational efficiencies and realign its sales and marketing expenditures and the impacts thereof; the Company's reliance on third parties to manufacture commercial supplies of its products and clinical supplies of its product candidates; the impacts of geopolitical factors such as the conflicts between Russia and Ukraine and Hamas, Iran and Israel; delay in or failure to obtain regulatory approval of the Company's or its partners' product candidates and successful compliance with Federal Drug Administration, European Medicines Agency and other governmental regulations applicable to product approvals; changes in the regulatory environment; the uncertainties and timing of the regulatory approval process; whether the Company can successfully market and commercialize its products; the success of the Company's relationships with its partners; the outcome of litigation and other legal proceedings and the risk of additional litigation and legal proceedings; the strength and enforceability of the Company's intellectual property rights or the rights of third parties; competition from other pharmaceutical and biotechnology companies and competition from generic entrants into the market; unexpected safety or efficacy data observed during clinical trials; clinical trial site activation or enrollment rates that are lower than expected; the risks inherent in drug development and in conducting clinical trials; risks inherent in estimates or judgments relating to the Company's critical accounting policies, or any of the Company's estimates or projections, which may prove to be inaccurate; and unanticipated factors in addition to the foregoing that may impact the Company's financial and business projections and may cause the Company's actual results and outcomes to materially differ from its estimates and projections. Readers are cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Investor Relations Contact
Lisa M. Wilson
T: 212-452-2793
E: [email protected]
