NEXGEL appoints Joseph F. McGuire as Chief Financial Officer, succeeding Adam E. Drapczuk III, effective January 1, 2025.
Quiver AI Summary
NEXGEL, Inc. has announced the appointment of Joseph F. McGuire as Chief Financial Officer, effective January 1, 2025. He succeeds Adam E. Drapczuk III, who will transition to a consulting role within the company. CEO Adam Levy expressed the importance of bringing experienced professionals on board as the company experiences growth and commended Drapczuk for his contributions. McGuire brings over 30 years of financial and public company experience, having previously served as CFO for various companies and played a key role in a biotechnology IPO. He has been consulting for NEXGEL since September 2024 and will lead the finance functions as part of the executive management team. NEXGEL specializes in high-water-content hydrogels for healthcare and consumer markets.
Potential Positives
- The appointment of Joseph F. McGuire as Chief Financial Officer brings valuable financial expertise and experience, which could enhance the company's operations during a period of high growth.
Potential Negatives
- The replacement of the Chief Financial Officer may raise concerns about leadership stability within the company, particularly at a time described as a "critical juncture" in its history.
- The acknowledgment of risks connected to the company's forward-looking statements suggests possible uncertainties in future performance and growth, which could lead to investor apprehension.
- Adam Drapczuk, the outgoing CFO, is moving to a consulting role, rather than being promoted within the company, which may indicate underlying issues with retention or succession planning in key management roles.
FAQ
Who has been appointed as the new CFO of NEXGEL?
Joseph F. McGuire has been appointed as Chief Financial Officer of NEXGEL, effective January 1, 2025.
What experience does Joseph F. McGuire bring to NEXGEL?
Mr. McGuire brings over 30 years of financial experience from various sectors, including healthcare and biotechnology.
What role will Adam E. Drapczuk III have at NEXGEL after the CFO transition?
Adam E. Drapczuk III will remain with NEXGEL as a consultant following the transition.
How long has Joseph F. McGuire been consulting with NEXGEL?
Joseph F. McGuire has been consulting with NEXGEL since September 2, 2024.
What types of products does NEXGEL specialize in?
NEXGEL specializes in medical and OTC products, including ultra-gentle, high-water-content hydrogels for healthcare applications.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$NXGL Insider Trading Activity
$NXGL insiders have traded $NXGL stock on the open market 12 times in the past 6 months. Of those trades, 11 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $NXGL stock by insiders over the last 6 months:
- SCOTT ROBERT HENRY has traded it 3 times. They made 2 purchases, buying 11,818 shares and 1 sale, selling 3,000 shares.
- ADAM R. LEVY (Chief Executive Officer) purchased 3,636 shares.
- JEROME B ZELDIS has traded it 2 times. They made 2 purchases, buying 13,636 shares and 0 sales.
- ADAM E III DRAPCZUK (Chief Financial Officer) has traded it 2 times. They made 2 purchases, buying 27,500 shares and 0 sales.
- STEVEN MARK GLASSMAN has traded it 2 times. They made 2 purchases, buying 19,090 shares and 0 sales.
- JOHN NACHUM STEIN has traded it 2 times. They made 2 purchases, buying 13,636 shares and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$NXGL Hedge Fund Activity
We have seen 8 institutional investors add shares of $NXGL stock to their portfolio, and 2 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VANGUARD GROUP INC added 21,349 shares (+74.6%) to their portfolio in Q3 2024
- NORTHEAST FINANCIAL GROUP, INC. added 20,000 shares (+168.8%) to their portfolio in Q3 2024
- GEODE CAPITAL MANAGEMENT, LLC added 18,771 shares (+49.3%) to their portfolio in Q3 2024
- NEWEDGE ADVISORS, LLC added 17,483 shares (+967.0%) to their portfolio in Q3 2024
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 11,259 shares (-100.0%) from their portfolio in Q3 2024
- UBS GROUP AG added 2,744 shares (+inf%) to their portfolio in Q3 2024
- RENAISSANCE TECHNOLOGIES LLC added 2,624 shares (+10.2%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
LANGHORNE, Pa., Jan. 02, 2025 (GLOBE NEWSWIRE) --
NEXGEL, Inc. (“NEXGEL” or the “Company”) (NASDAQ: “NXGL”), a leading provider of medical and over-the-counter (OTC) products including ultra-gentle, high-water-content hydrogels for healthcare and consumer applications, today announced the appointment of Joseph F. McGuire as Chief Financial Officer, effective January 1, 2025. Adam E. Drapczuk III, current Chief Financial Officer, will remain with the Company as a consultant.
Adam Levy, Chief Executive Officer, stated, “As our business continues to experience high growth, it is imperative we consistently acquire talented and experienced professionals to join our team particularly in operations and finance. Joe brings many decades of public company and financial experience that will be invaluable during this critical juncture in our company history.”
Mr. Levy continued, “I would like to thank Adam Drapczuk for his invaluable contributions to NEXGEL’s progress and success. We wish him good luck as he builds his own consulting business through Achieving Consulting Excellence, LLC, and are pleased that we can still rely on him moving forward.”
Mr. McGuire has over 30 years of financial and public company experience, having served as Chief Financial Officer for several privately held and publicly traded companies in the health care, financial services, investment, and manufacturing industries. He was a key member of the team that successfully guided a biotechnology company through its IPO, resulting in its listing on the NYSE in July 2022. In these roles, Mr. McGuire’s responsibilities included SEC financial reporting, investor relations, corporate governance, legal and audit liaison, and team building.
He began his career with Price Waterhouse, where he was a certified public accountant, and later held management positions with Dean Witter Reynolds and Paine Webber, Inc. Mr. McGuire received a Bachelor of Science in accounting from the University of Notre Dame. Mr. McGuire has consulted with NEXGEL since September 2, 2024, and will serve on the executive management team to lead the Company’s finance functions.
Mr. McGuire, newly appointed Chief Financial Officer of NEXGEL, commented, “It is an exciting time to be part of NEXGEL. Adam Levy and his team have executed consistently and exceeded the markets expectations. I look forward to working with him, Adam Drapczuk and the rest of the team going forward.”
About NEXGEL, Inc.
NEXGEL is a leading provider of healthcare, beauty, and over-the-counter (OTC) products including ultra-gentle, high-water-content hydrogels. Based in Langhorne, Pa., the Company has developed and manufactured electron-beam, cross-linked hydrogels for over two decades. NEXGEL brands include SilverSeal
®
, Hexagels
®
, Turfguard
®
, Kenkoderm
®
and Silly George
®
. Additionally, NEXGEL has strategic contract manufacturing relationships with leading consumer healthcare companies.
Forward-Looking Statement
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “prospects,” “outlook,” and similar words or expressions, or future or conditional verbs, such as “will,” “should,” “would,” “may,” and “could,” are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance, or achievements to be materially different from any anticipated results, performance, or achievements for many reasons. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company's forward-looking statements, please see the Company's Annual Report on Form 10-K for the year ended December 31, 2023, including but not limited to the discussion under “Risk Factors” therein, which the Company filed with the SEC and which may be viewed at
http://www.sec.gov/
.
Investor Contacts:
Valter Pinto, Managing Director
KCSA Strategic Communications
212.896.1254
NEXGEL@KCSA.com
This article was originally published on Quiver News, read the full story.
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