Marco Taglietti
About Marco Taglietti
Marco Taglietti, M.D. (age 65) is an independent Class III director of Aquestive Therapeutics, serving on the Board since February 2021; his current term expires at the 2027 Annual Meeting. He is a physician by training with a Degree in Medicine from the University of Pavia, Italy, and has held senior R&D and CEO roles across biopharma. He currently serves on AQST’s Audit Committee and Science & Technology Committee. The Board classifies him as independent under Nasdaq and SEC standards, and notes all independent directors met at least a 75% attendance threshold in 2024; Dr. Taglietti was excused from the 2024 Annual Meeting due to an unavoidable business conflict.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Scynexis, Inc. (Nasdaq:SCYX) | President & Chief Executive Officer; Director | 2015–end of 2022 | Led antifungal innovation; CEO oversight across strategy and operations |
| Forest Laboratories (now AbbVie) | President, Forest Research Institute; Chief Medical Officer; Executive Corp. VP, R&D | 2007–2014 | Senior leadership across clinical/R&D; therapeutic portfolio oversight |
| Stiefel Laboratories (now GSK) | SVP, Head of Global R&D | 2004–2007 | Global R&D leadership in dermatology and other areas |
| Schering-Plough Research Institute | VP, Clinical Research (Anti-Infectives, CNS, Dermatology, Endocrinology) | 1992–2004 | Clinical development leadership across multiple therapeutic areas |
| Marion Merrell Dow Research Institute | European Product Team Leader – Anti-Infectives | 1987–1992 | Product leadership for anti-infectives in Europe |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| NanoNewron (biotech) | Chief Executive Officer | Appointed recently (current) | Focus on humanized biologics crossing the BBB for Alzheimer’s/CNS diseases |
| Aurobac Therapeutics SAS | Director | Since 2023 | AMR-focused biopharma |
| Delcath (Nasdaq:DCTH) | Director | 2014–2021 | Prior public company board service |
| NephroGenex (Nasdaq:NRX) | Director | 2014–2017 | Prior public company board service |
| Stiefel International, Ltd. (private) | Director | 2004–2007 | Private company governance |
| TransCelerate BioPharma (non-profit) | Director | 2013–2014 | R&D streamlining consortium board |
| BioNJ (trade association) | Director | 2011–2022 | NJ life sciences advocacy |
| HINJ (trade association) | Director | 2011–2014 | NJ health industry association |
| Orchestra of St. Luke’s (NYC) | Director | Current | Non-profit governance |
Board Governance
- Board structure: Classified board; seven directors, six independent; Chair is independent (Gregory B. Brown, M.D.). Executive sessions held periodically.
- Independence: Board determined all directors other than the CEO are independent; committee members meet heightened independence criteria.
- Attendance: Board met 7 times in 2024; all directors met ≥75% attendance; Dr. Taglietti was excused from the 2024 Annual Meeting due to unavoidable business conflict.
- Risk oversight: Audit Committee oversees financial and cybersecurity risks; Compensation monitors risk in pay programs; Nominating & Governance oversees governance and sustainability.
- Hedging/pledging policy: Prohibits hedging, short sales, and pledging/margin accounts for directors, officers, and employees.
| Committee | Role | 2024 Meetings |
|---|---|---|
| Audit Committee | Member (Audit Committee report lists him alongside Chair Morris and Dr. Brown) | 8 |
| Science & Technology Committee | Member | 4 |
Note: Audit Committee financial experts are designated as Dr. Brown and Mr. Morris; Dr. Taglietti is not designated as the “financial expert.”
Fixed Compensation
| Component | Annual Amount | Notes |
|---|---|---|
| Board Retainer (Non-Employee) | $50,000 | Standard cash retainer payable quarterly |
| Committee Membership Fees | Audit $10,000; Compensation $8,750; Nominating $5,000; Science & Technology $8,750 | Chair additional retainers: Audit $20,000; Compensation $17,500; Nominating $10,000; Sci & Tech $17,500 |
| Marco Taglietti – 2024 Director Compensation | Amount ($) |
|---|---|
| Fees Earned or Paid in Cash | $68,750 |
| Option Awards (grant-date fair value) | $76,931 |
| All Other Compensation (travel reimbursement) | $1,579 |
| Total | $147,260 |
Performance Compensation
- Annual equity grants: Each non-employee director received an annual stock option grant in 2024 of 38,000 options; annual grants occur on the date of the Annual Meeting, vest one year from grant; exercise price equals the closing market price on grant date.
- 2024 grant date fair value: $2.50 per share; options are time-based only (no performance hurdles).
| Equity Award (2024) | Grant Date | Shares | Fair Value per Share | Total Fair Value | Vesting | Exercise Price Basis |
|---|---|---|---|---|---|---|
| Non-Employee Director Stock Options | June 20, 2024 | 38,000 | $2.50 | $76,931 | 100% vest one year from grant | Equal to closing market price on grant date |
Other Directorships & Interlocks
- Current external roles include CEO of NanoNewron and director of Aurobac Therapeutics SAS; prior roles include director positions at Delcath (DCTH) and NephroGenex (NRX). No related-party transactions involving Dr. Taglietti were disclosed by AQST, and the Board reaffirmed his independence following its annual conflicts review.
Expertise & Qualifications
- Physician-executive with deep clinical development and R&D leadership across anti-infectives, CNS, dermatology, and endocrinology; former CMO/EVP and R&D leader at Forest Labs and SVP/Head of Global R&D at Stiefel; ex-CEO of Scynexis driving antifungal innovation.
- Adds scientific and drug development oversight as a member of AQST’s Science & Technology Committee, which reviews clinical programs, human studies risk management, and SAB composition.
Equity Ownership
| Measure | Value |
|---|---|
| Beneficially Owned Common Shares | 44,000 (less than 1%) |
| Right to Acquire within 60 Days (Options) | 98,500 |
| Outstanding Stock Options (as of 12/31/2024) | 136,500 |
| Shares Pledged | None (policy prohibits pledging; table indicates none pledged) |
AQST’s insider trading policy requires pre-approval for certain transactions and prohibits hedging/pledging; Section 16 filings in 2024 were compliant with minor late filings by others (not Dr. Taglietti).
Governance Assessment
- Board effectiveness: Dr. Taglietti strengthens scientific oversight on the Science & Technology Committee and contributes to financial oversight on the Audit Committee; independence affirmed under Nasdaq/SEC rules; Board leadership separated (independent Chair), with periodic executive sessions.
- Alignment: Director cash retainer and time-based option grants align with standard small-cap biotech norms; hedging/pledging bans and modest beneficial ownership support alignment; no pledging, no related-party transactions disclosed.
- Attendance/engagement: Met Board attendance expectations (≥75% across meetings), with one excused absence from the 2024 Annual Meeting due to unavoidable business conflict.
- Potential conflicts: He is CEO of NanoNewron (CNS focus), an adjacent therapeutic area to AQST; AQST’s annual independence review found no impairing relationships, and no related-party transactions were reported. This remains a watchpoint given his Sci & Tech role, but no current red flags are disclosed.
RED FLAGS: None disclosed specific to Dr. Taglietti—no hedging/pledging, no related-party transactions, and independence affirmed. Continued monitoring advised for any future overlap between NanoNewron activities and AQST pipeline/partners.
