Fertility specialist delivers new head, months overdue

22 June 2017

US fertility treatment specialist OvaScience (Nasdaq: OVAS) will cut its workforce and appoint a new chief executive, Christopher Kroeger, in a bid to slow the company’s cash burn rate and focus on key clinical development goals.

The company’s share price suffered in late 2016 following news of a 30% cut in staff numbers and the departure of former chief executive Harald Stock, who only took on the role from co-founder Michelle Dipp in July that year.

Uncertainty has since clouded the firm’s future, with Dr Dipp taking over the executive role on a provisional basis. She will serve as an advisor to the company from September, when Dr Kroeger takes the reins.

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