Array CFO Henahan steps down just months after hiring

BOULDER – Array Biopharma (Nasdaq: ARRY) on Monday disclosed that new chief financial officer Patricia Henahan has notified the company that she will be resigning effective Dec. 17, just more than three months after she was hired as the permanent replacement for longtime CFO Michael Carruthers.

Reached by telephone, Array spokeswoman Tricia Haugeto said she couldn’t comment on Henahan’s departure beyond what was disclosed in the Form 8-K filed with the Securities and Exchange Commission other than to say that the resignation “was not related to any business issues.”

David Horin, who served as interim CFO in between Carruthers’ February departure and Henahan’s September hiring, has once again been named interim CFO by Boulder-based Array, which develops cancer drugs.

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Horin will serve in the role pursuant to an agreement with Chord Advisors, according to the SEC filing. Horin is a managing partner of Chord. Array will pay the company a monthly fee of at least $20,000 for Horin’s services.

Array’s share price dipped 4.7 percent to $3.83 in Monday trading.

Array earlier this month signed a commercialization deal with France-based Pierre Fabre Oncology related to Array drugs binimetinib and encorafenib. The deal, which gives Pierre Fabre the right to commercialize the drugs in Europe and Asia, among other regions, included a $30 million payment up front for Array, as well as up to $425 million in future milestone payments and royalties on sales.