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Medivir: The CEO resigns - Redeye

Redeye is surprised by the resignation of Yilmaz Mahshid, CEO of Medivir, after a short (six months) but a productive stint at the helm of the company. The press release from Medivir cites personal reasons, and he will leave at the beginning of May and subsequently join the board, evidently backed by the largest owner.

Hence, although a sudden decision, the process seems quick but orderly considering. While there is so far no evidence that the resignation is related to operational issues, we believe the news might entail some initial nervousness among investors, e.g., ahead of the upcoming clinical update regarding the main project MIV-818.

Further, Medivir has yet to announce any replacement. However, we believe Medivir’s position has improved since Yilmaz Mahshid took over as CEO, the financials are solid, and there has been insider buying lately.

We make no changes to our valuation at this point.
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