Morphic CEO Tipirneni taking medical leave of absence

Integrin company Morphic Holding Inc. (NASDAQ:MORF) said late Tuesday that CEO Praveen Tipirneni is taking a temporary medical leave of absence. President Bruce Rogers and CFO and COO Marc Schegerin are managing day-to-day operations until Tipirneni’s return. Since Morphic reported new data on Friday from the Phase IIa EMERALD-1 study of α4β7 integrin inhibitor MORF-057 to treat ulcerative colitis, its shares have lost 59% percent of their value; they were off a further $1.03 to $20.30 in after-hours trading on Tuesday.

David “Dave” Stack will retire as chairman and CEO of Pacira BioSciences Inc. (NASDAQ:PCRX), a non-opioid pain management and regenerative health company. Stack will remain in his role until a new CEO is appointed, and then consult for the company until August 2025...