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GeneThera director resigns over communication practices disagreement

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GeneThera director resigns over communication practices disagreement

Fred Oeschger resigned as a director of GeneThera Inc., effective Dec. 6, over disagreements with the company's communication practices.

Oeschger said he did not feel that the biotechnology company's information is communicated "as timely or as completely" as necessary for him to fulfill his duties as a board member, and he also disagreed with GeneThera's decisions to make filings and other public communications without the board's approval.

The company appointed Oeschger in September.

GeneThera said in a Dec. 13 regulatory document that it disagrees with Oeschger's statement over timeliness, noting that the company was working to complete the filings on an expedited basis to meet deadlines set by the U.S. Securities and Exchange Commission. Drafts of the filings were submitted to board members for approval at least two days before that deadline. GeneThera noted that Oeschger did not comment or inquire on the draft reports and that "a majority" of the board informally approved the draft reports before they were filed.

Westminster, Colo.-based GeneThera Inc. is a biotechnology company that develops molecular diagnostic tests, therapeutics and vaccines to control emerging diseases in animals and humans.