RXDX - Prometheus Biosciences extends gains as former chairman of Bausch & Lomb joins board

Following a gain of ~21.8% yesterday, Prometheus Biosciences ([[RXDX]] +1.8%) is continuing the momentum today in apparent reaction to the appointment of industry veteran Fred Hassan to its board of directors.Mr. Hassan was a former chairman of Bausch & Lomb from 2010 until the company was acquired by Valeant Pharmaceuticals where he then served as a board member from 2013 to 2014.Mr. Hassan has previously held directorships in Amgen and Precigen Corporation and was a former chairman and chief executive officer at Schering-Plough from 2003 to 2009.“We’re honored to have a highly accomplished industry titan like Fred join our Board at this pivotal time,” noted Prometheus CEO Mark McKenna.“Prometheus has great potential to disrupt the immune-mediated disease space and industry as a whole,” Mr. Hassan added.In early April, Stifel analyst Derek Archila initiated the coverage on Prometheus with a buy recommendation noting among other things the potential of its precision medicine approach.

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Prometheus Biosciences extends gains as former chairman of Bausch & Lomb joins board