PYC Therapeutics Limited

ASX:PYC

PYC Therapeutics Limited

ASX:PYC
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$1.485 (-1%)
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#95
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Pinned straw:
Scoonie
Added 3 months ago

Today PYC announced: 

“PYC Therapeutics Limited (ASX:PYC) (PYC or the Company) announces the appointment of Chairman Mr Alan Tribe as the Company’s Managing Director following the resignation of Dr Rohan Hockings as Chief Executive Officer and Executive Director. Dr Hockings has given 2 months’ notice and it is currently expected that he will leave the Company by 16 November 2025.”

Mr Alan Tribe is (was?) a wealthy WA accountant, property developer and PYC True Believer who back in February 24 kicked in a further $35m in the most recent $146m PYC capital raise. Alan owns around 34% of PYC.

The lively and affable ex CEO Rohan Hockings, the driving force behind the science at PYC was on Strawman back in 29/5/24.   This interview makes a contrast to the recent SM interview with the prickly Alan Taylor of CU6.   Rohan did not own much of PYC, however at one point his father a Perth cardio, had around 5% from memory.  

Looks like one hell of a blow up, though we may never really know just what happened. Not good news for science, PYC investors and Alan Tribe in particular I would think. 
Scoonie
Added 3 months ago

Its was getting pretty wild with PYC with the unexpected resignation of CEO Rohan Hoskins. So an ASX announcement of the new management might but expected soon. But new management AND a capital raise? A good one to clear of for now.


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lastever
Added 3 months ago

@Scoonie Turns out it was a rushed announcement, they've corrected it, and it should have stated 'regarding changes to board and management'. Phew. Was looking truly bizarre for a moment there.

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NewbieHK
Added 3 months ago

Clown Show!

6
lastever
Added 2 months ago

Hockings back as MD until end 2027, 2 NEDs out. Dramarama.

6
Scoonie
Added 2 months ago

Ha. You can only speculate what a weekend it has been at the Tribe and Hockings households after the nuclear button was pushed last Wednesday.

Alan who made most of his money developing Ikea stores, must have over the weekend hit himself over the head with a giant Allen key and realised without Rohan Hockings his investment in PYC of around $180m was substantially rooted.

Rohan must hit himself with the same Allen key and came to the realisation PYC was his best shot at the big time he was ever likely to get.  

It is interesting situation where Humpty Dumpty can be kind-of put back together again. 

As a contrast if the man in Moscow or Washington pushes that red button there is no going back.  

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