Changes are happening - please bear with us while we update our site.

Changes are happening - please bear with us while we update our site. Click here to give us your advice and feedback.

Clinuvel (ASX:CUV) Shares Rise On Renewed CEO Agreement

Clinuvel Pharmaceuticals Limited (ASX:CUV) shares opened more than 3% higher this morning after announcing a renewed employment agreement with the existing CEO. Here's what you need to know. 

Clinuvel Pharmaceuticals Limited (ASX: CUV) shares opened more than 3% higher this morning after announcing a renewed employment agreement with the existing CEO. Here’s what you need to know.

About Clinuvel

Clinuvel Pharmaceuticals is a global biopharmaceuticals company with a focus on developing and delivering treatments for patients with a range of severe genetic and skin disorders. Clinuvel’s main product is called SCENESSE, which it develops and self-distributes.

Renewed Employment Agreement

Clinuvel shares have risen this morning following the announcement of a renewed employment agreement with the existing CEO and Managing Director Dr Philippe Wolgen.

The new contract will see Dr Wolgen’s term extended until at least July 1st, 2022. Dr Wolgen has a long-term track record with Clinuvel and has led the company since 2005.

Clinuvel’s Chair, Stan McLiesh, said the company was looking to maintain a stable management team.

“The Board of Directors and larger investors are clear in their opinion that we want to retain Philippe and see him supported by a stable senior management team in order to continue the Company’s successful journey, by incentivising him and his team for executing our strategy,” he said.

The new remuneration agreement is focused on long-term objectives such as positive results of a Phase II SCENESSE study, and research and development that leads to the development of new molecules or formulations progressing to clinical trials.

Time To Buy? 

There’s a lot to like about Clinuvel shares and this announcement. One thing I always look for in an investment is a long-term CEO with a proven track record and long-term incentives which align their interests with those of shareholders.

While Clinuvel does tick those boxes, I’m not sure about the valuation with shares currently trading on a price-to-earnings (P/E) multiple of around 69 times.

I like Clinuvel, but I think there are better options for growth, like the two companies in the free report below.

[ls_content_block id=”14947″ para=”paragraphs”]

Disclosure: At the time of writing, Max does not have a financial interest in any of the companies mentioned. 

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Skip to content