You don’t see C-suite clear-outs very often

Yet that’s exactly what happened yesterday at Akcea Therapeutics, whose CEO, president, and chief operating officer left the company.

The details, as STAT’s Kate Sheridan reports, are that all three signed separation agreements that terminated their employments and entitled them to severance pay. Akcea gave no reason for the move, but it’s worth noting that none of the departing executives is quoted in the accompanying press release.

Stifel analyst Paul Matteis, likely speaking for many on Wall Street, had a concise reaction: “Why now?” The nearly $2 billion company is in the midst of a commercial competition with rival Alnylam Pharmaceuticals while developing next-generation rare disease treatments on a tight timeline. Changing leadership now could cause a costly disruption.

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