David P. Wright, Guilford Pharmaceuticals Inc.'s president and chief business officer, said yesterday that he is leaving the Baltimore-based company after two years.
Wright's sales responsibilities will be taken over by Michael Kelly, formerly of ViroPharma Inc., who will become vice president of sales and marketing.
A Guilford spokeswoman said Craig R. Smith, chairman and chief executive, will also assume the role of president.
Wright joined Guilford as vice president of sales and marketing in November 2000 from Gaithersburg-based MedImmune Inc., where he helped oversee sales of Synagis, that company's hugely successful infant respiratory drug.
"My decision to leave Guilford was a very difficult one," said Wright, who will remain on the company's board of directors.
Guilford recently reported a third-quarter loss of $14.6 million, a result largely of a layoffs-related charge and a decline in sales of its Gliadel treatment for brain cancer. Revenue, nearly all of which came from Gliadel, fell to $3.3 million from $5.9 million a year earlier.
UBS Warburg analyst Andrew A. Gitkin said Gliadel's sluggish sales are difficult to understand, given that it is a new product that should still be gaining market share. Sales of Gliadel, which was approved in 1996, totaled $20.4 million last year, and the company said recently that it expects to sell $15 million worth this year.
The FDA rejected in March Guilford's application to approve use of Gliadel in initial surgeries for brain cancer. The drug currently is allowed to be used only in recurrent cases. Guilford since has submitted more data to the FDA backing its approval for that use.
In November, Guilford withdrew the application it filed in Europe seeking approval for expanded uses of Gliadel, but plans to resubmit.
Guilford had cash and investments of $113.8 million at the third quarter's end. Its shares fell 44 cents yesterday to close at $4.10 on the Nasdaq stock market.