Aziyo rises on leadership changes

Elutia

22/06/2022 15:26

** Shares of regenerative medicine company Aziyo Biologics
 AZYO.O  rise 8.7% to $6.95
    ** Aziyo says president and CEO Ronald Lloyd to step down;
Co-founder C. Randal Mills appointed to the roles on interim
basis  urn:newsml:reuters.com:*:nGNX5Htvp3
    ** Truist Securities says though CEO change was unexpected
and a bit odd from a timing standpoint, it doesn't signal
anything negative related to approval prospects for AZYO's key
pipeline product
    ** Lloyd to remain with company through the end of Q3 to
assist with transition
    ** Co-founder and Chairman Kevin Rankin assumes role of
executive chairman
    ** Co also reaffirms FY2022 total net sales guidance of $47
mln to $50 mln
    ** Stock up 10.4% YTD

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))