Phosphagenics board faces a shake-up

Governance issues continue to plague Phosphagenics in the wake of last year's fraud allegations, with the biotech likely to announce a board reshuffle soon.

Phosphagenics (POH) is believed to be close to announcing a board reshuffle to appease aggrieved shareholders following allegations of fraud against its former chief executive over six months ago.

The issue of governance continues to hang over the biotech since its former chief, Esra Ogru, was implicated by Phosphagenics in invoicing and accounting irregularities worth $5.7 million that stretched over eight years.


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