Co-CEO Kevin Richardson II, CFO Koti Meka, and President Campbell Becher have resigned from their respective positions. Jie (Jay) Sheng has been appointed as the new President and incoming CFO, effective June 21, 2026. Jerry Wang has been appointed as a director, and Chen Shi has been appointed as an independent director and Audit Committee chair. The company is discontinuing its legacy biotechnology business segment to focus on strategic alternatives. The company is currently evaluating the financial impact of the wind-down, including potential asset impairments.