Victor Moyo
About Victor Moyo
Victor Moyo, M.D., age 57, serves as Chief Medical Officer, Oncology at Traws Pharma (appointed April 12, 2024), having joined in June 2023 as Consulting CMO and becoming CMO in October 2023 . He is a physician-researcher with ~30 years of clinical research experience (19 years in pharma), credited with IND/NDA leadership and work on Onivyde for metastatic pancreatic cancer, an epoetin alpha trial in MDS, and multiple patents; prior roles include senior clinical leadership at OncoPep, LEAF Pharmaceuticals, Merrimack Pharmaceuticals, and J&J’s Centocor Ortho Biotech . Company TSR (value of a fixed $100 investment) rose from 10.67 in 2023 to 13.93 in 2024; 2024 GAAP net loss expanded significantly due to an ~$117.5M non‑cash IPR&D charge from the Trawsfynydd acquisition .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| OncoPep, Inc. | Chief Medical Officer | May 2022 – Oct 2023 | Led clinical development; oncology portfolio oversight |
| LEAF Pharmaceuticals | EVP, CMO & Head of R&D | Jan 2019 – May 2022 | Built R&D strategy; advanced oncology programs |
| LEAF Pharmaceuticals | SVP R&D & CMO | Jan 2016 – Jan 2019 | Clinical leadership; portfolio development |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Merrimack Pharmaceuticals | VP Clinical Investigations (prior role) | Not disclosed | Senior clinical leadership in oncology |
| Johnson & Johnson (Centocor Ortho Biotech) | Medical Director (prior role) | Not disclosed | Clinical leadership; development responsibilities |
Fixed Compensation
| Component | Terms | Source |
|---|---|---|
| Base Salary | Initial base salary $450,000 | |
| Target Bonus % | Up to 40% of base; discretionary; may be paid in cash, options, or shares | |
| Sign‑on Bonus | $75,000 forgivable loan; repayable only if voluntary resignation/termination for cause before Oct 2, 2024; later amended such that repayment not required if termination by Company for cause or by Dr. Moyo without good reason prior to Oct 2, 2024 | |
| Equity Grant (Employment Agreement) | Non‑qualified stock option to purchase 125,000 shares; vest over 4 years from grant date | |
| Benefits & Covenants | Participation in executive benefit plans; non‑solicit, non‑compete, confidentiality, inventions assignment |
Multi‑Year Compensation (SCT)
| Metric | 2023 | 2024 |
|---|---|---|
| Salary ($) | 103,846 | 453,107 |
| Bonus ($) | 113,990 | — |
| Stock Awards ($) | — | — |
| Option Awards ($) | — | — |
| All Other Compensation ($) | 108,226 (incl. $103,950 consulting pre‑employment) | 25,329 |
| Total ($) | 404,678 | 478,436 |
Performance Compensation
| Incentive Type | Metric | Target/Design | Actual/Payout | Vesting | Notes |
|---|---|---|---|---|---|
| Annual Bonus | Discretionary Company/individual metrics | Up to 40% of base | 2024: $0; 2023: $113,990 | Annual | Bonus may be in cash/options/shares per Committee discretion |
| Stock Options (Employment Agreement) | N/A (time‑based) | 125,000 options | Not disclosed | 4‑year schedule: 25% at 1st anniversary, then 36 equal monthly installments | Employment agreement option award vesting terms |
Outstanding option specifics at 2024 year‑end (company’s equity table):
- Option exercise price $17.79; expiration 10/2/2033 (Moyo row) .
- General vesting conventions: options typically 25% at 1st anniversary, remaining monthly over 3 years .
Equity Ownership & Alignment
| Ownership Item | Value | Notes |
|---|---|---|
| Shares Outstanding (reference date) | 7,125,832 (as of Oct 2, 2025) | Basis for % ownership |
| Victor Moyo Beneficial Ownership | 2,605 shares; “*” less than 1% | Includes options currently exercisable or exercisable within 60 days of Oct 2, 2025 |
| Vested vs Unvested Breakdown | Not fully disclosed | Beneficial position includes near‑term exercisables; broader unvested grants not itemized by executive in proxy tables |
| Pledging/Hedging | Not disclosed in cited filings | No explicit pledging/hedging policy reference in DEF 14A/10‑K sections reviewed |
| Rule 10b5‑1 Plans | None entered, modified, or terminated in Q4 2024 by directors/officers | Mitigates interpretation of pre‑planned insider selling in that period |
Employment Terms
| Term | Provision | Economics |
|---|---|---|
| Agreement Term | Indefinite; terminable per agreement | Moyo Employment Agreement dated Oct 2, 2023; amended April 12, 2024 with immediate severance eligibility |
| Severance (no CIC) | If terminated without cause or resigns for good reason (post Oct 2, 2024): 9/12ths of (base + target bonus), paid over 9 months; COBRA employer portion for 9 months; unvested stock options fully vest; prior year approved unpaid bonus paid | ~0.75x salary+target bonus multiple; equity acceleration on termination; conditioned on release & continued covenant compliance |
| Severance (within 12 months post CIC) | Sum of (current base + target bonus) in a lump sum; COBRA employer portion for 12 months; unvested stock options fully vest; prior year approved unpaid bonus paid | ~1.0x salary+target bonus multiple; single‑trigger equity acceleration in termination scenario; release & covenant compliance required |
| Non‑Compete/Non‑Solicit | Included; applies during employment and specified period thereafter | Standard confidentiality and inventions assignment also included |
| Equity Plan Protections | Change‑in‑Control mechanics for award assumption/acceleration; no option/SAR repricing without shareholder approval; clawback rights tied to restrictive covenants and policy | Governance protections and potential award acceleration framework |
Investment Implications
- Pay‑for‑performance alignment: Cash bonus is discretionary; equity is primarily time‑based options with accelerated vesting upon qualifying termination, which can reduce retention friction but may dampen performance linkage absent disclosed, quantified targets or PSU allocations for Moyo .
- Severance economics: Outside CIC, ~0.75x salary+target bonus; within CIC, ~1.0x salary+target bonus, plus COBRA and full option acceleration—manageable multiples, but single‑trigger equity acceleration on termination increases potential change‑in‑control cost and post‑deal dilution risk .
- Ownership/overhang: Moyo’s direct beneficial stake is minimal (<1%), with options comprising near‑term exercisables; this limits direct alignment via common equity but is typical for R&D executives in small‑cap biotech; no 10b5‑1 trading plans in Q4’24 temper near‑term selling pressure interpretations .
- Execution track record: Deep oncology development experience (Onivyde, IND/NDA leadership) supports credibility in advancing Traws programs; company TSR improved 2023→2024 while GAAP net loss widened largely due to IPR&D, underscoring binary R&D outcomes driving value rather than near‑term financial metrics .