Arca Biopharma CEO resigns - Silicon Valley / San Jose Business Journal:

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Arca (NASDAQ: ABIO), based in Broomfield, earlier this year completed a reverse mergerd with ofSan Carlos. That took the Colorad company public and gave it access toaboutg $60 million in Nuvelo cash, cash equivalents and securities. who lives in Santsa Cruz and is the former chiecf executiveof Fremont’s Inc., will become chairman of the Arca boarr as Michael Bristow shifts from chairmanj to president and CEO. Bristow was CEO before Brewer joinethe company.
“Today, Arca must balancw its cash resources with the continues prosecution of the Gencaro new drug Brewer said in apress “These changes in management focus are intendedf to allow exactly that to happeh while advancing the strategic interests of the The FDA said Gencaro didn’yt prove it was effective and asked Arca to complete additional clinical studies. The agency also questionefd the integrityof Arca’s trial data, baseed on an audit of some clinical trial sites. Arca had filed severap amendments to its new drug applicationin May, and the FDA said it hadn’g reviewed those documents when it made its decision.