Steve O’Loughlin has been appointed CFO of CNS Pharmaceuticals. He replaces Chris Downs, who is staying with the company as its Senior VP – Finance.

The company is based in The Galleria and is a clinical-stage pharmaceutical company developing drugs for the treatment of cancers of the brain and central nervous system. The company went public in 2019. It currently has a market capitalization of $2m.

In early 2025, trial results showed that Berubicin, the main drug that the company had been developing, was no better than existing treatments in treating Glioblastoma. The company has another drug, TPI 287, that shows potential for treating brain tumors, however, only early-stage trials have taken place so far and more controlled studies are required.

Mr. O’Loughlin joins the company from Actinium Pharmaceuticals, where he had been CFO since August 2020. He joined that company in 2015. According to LinkedIn, Mr O’Loughlin is based in New York. His employment offer letter with CNS is silent on his place of work.

Mr. Downs joined the company as its CFO upon completion of its IPO in 2019. Mr. O’Loughlin will receive a base salary of $450,000. Mr. Downs will receive $350,000.

In December 2025, CNS appointed Rami Levin as its new CEO. He replaced John Climaco, who had been CEO since 2017. Mr Levin, who is based in Boston, has previously been the CEO of two clinical-stage biopharmaceutical companies.

SEC filing – 8-K CNS Pharmaceuticals CFO

Lexicon Pharmaceuticals has appointed Scott Coiante as its new CFO, effective immediately. He replaces Jeff Wade, who left in September after 25 years as its CFO.

Lexicon is a biopharma company that went public in 2000. In 2020, it sold its main product for $160 million. The company now has virtually no revenues as it tries to commercialize its main prospect, a diabetes drug. It currently has a market cap of $267 million.

Lexicon appointed a new CEO, Dr. Mike Exton, in July 2024. Although the company has its head office in The Woodlands, both Dr. Exton and Mr. Coiante will be based out of the New Jersey office.

Mr. Coiante joins from Agile Therapeutics, also based in New Jersey, where he was CFO from 2011-2019 and again from August 2023 until its takeover in August 2024. In between these two stints, he was the CFO at another publicly-traded biotech company, Aprea Therapeutics. Mr. Coiante started his career at Ernst & Young.

Mr. Coiante will receive a base salary of $450,000.

SEC filing – 8-K – Lexicon CFO appointment

Mark Andersen, the CFO of FibroBiologics, has stepped down after just over two years in the role.  Robert Hoffman, a non-exec director, has been appointed interim CFO.

The company is a biotech based in The Medical Center. Unusually, It went public via a direct listing in January 2024. It set a reference price of $8, though they actually opened at $30. The stock currently trades at $2.75.

The direct listing didn’t raise any cash for the company. Instead the money from the listing mostly went to a company controlled by the founder and CEO Pete O’Heeron. The company only has a few million dollars of cash on hand and it mostly funds its ongoing operations from periodic sales of stock to the controlling shareholder.

FibroBiologics was formed in 2021 and is developing treatment therapies that use fibroblasts. Fibroblasts and stem cells are the only two cell types in the human body that can regenerate tissue and organs.

The company believes that fibroblasts are favorable to stem cells in cell therapy treatments as they do not provoke an immune response and can be non-invasively harvested from a variety of skin donors. However, no fibroblast therapy products have yet been approved.

The company is concentrating on treatments for degenerative disc disease, Multiple Sclerosis and wound healing.

Mr. Andersen, who had an annual salary of $325,000, will receive severance payments equivalent to his monthly salary, for the next nine months.

Mr. Hoffman is based in San Diego and has been on the Board since 2021. He has a long career in biotech companies, including serving as CFO of a couple of publicly-traded companies.  He will receive cash compensation of $45,833 per month.

SEC filing – 8-K – FibroBiologics CFO

Jeff Wade is out as COO and Principal Financial Officer of Lexicon Pharmaceuticals. He joined the company as its CFO in 1999. The company is conducting a search for a new CFO.

Lexicon is a biopharma company that went public in 2000. In 2020, it sold its main product for $160 million. The company now has virtually no revenues as it tries to commercialize its main prospect, a diabetes drug. It has its head office in The Woodlands.

Bizarrely, Mr. Wade was only appointed to the COO role two months ago on the same day that a new CEO took over. In the process, he got a pay raise from $560,000 to $585,000.

Dr. Mike Exton became CEO on July 7, replacing Lonnel Coats, who had been the CEO since 2014. In August, the company announced it would cut 50% of its workforce, or more than 75 jobs, to prioritize commercialization of its drug, Sotagliflozin.

Mr. Wade’s employment will terminate on September 30. After that, he will receive 12 monthly payments equivalent to his annual salary ($585,000). He will also receive a lump sum amount of $175,000, or 50% of his target cash bonus, plus COBRA payments for 12 months ($44,400). Mr. Wade will also enter into an 8-month consultancy agreement for $3,000 per month.

Kristen Alexander will assume the function of principal financial officer. She joined the company in 2017 as Controller. She previously worked for Johnson Specialty Tools, Trican Well Services, Nabors, and Ernst & Young.

SEC 8-k filing – Lexicon CFO departure