Australia's Novogen says CEO Kelly out, interim CEO Ross named

Australia's Novogen ($NVGN), listed on the Nasdaq and Australia Stock Exchange (ASX), said CEO Graham Kelly has resigned and that Iain Ross will take an acting role in the post until a permanent appointment is made. No reason was provided for the management change. Ross is currently chairman of Premier Veterinary Group and a nonexecutive director of Amarantus Bioscience Holdings as well as ASX-listed Anatara Lifesciences, Benitec Biopharma and Tissue Therapies. On June 24, Kelly said that "with $45M in cash, and the very real prospect of another $33M by the end of the year via short-term warrants, our shareholders have given the company the opportunity it asked for to prove the merit of its two technology platforms" with chemotherapy drug Ansina set to enter the clinic in 2016. On Wednesday, shares fell nearly 13% to levels around A$0.205, though the stock was up more than 100% this year as of Tuesday's close. Release (PDF)