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Taylor’s role at Urigen drew scrutiny in the past severalk months because of SEC filings that showed he had been paid for his role on the which would have violated state statute becausreKTEC — an agency backeed by state money had . Taylor and the company denied that he had been and the KTEC board declaredTaylor . Taylor . KTEC has not requeste a replacementboard seat, Shmagin Urigen appointed Michael Goldberg to the board but will leave the chairman position open. Goldberg, 50, is a managing partnefr of investment firm and from 1990 to 2007 was chairman and CEOof . Urigen has four drugs in clinicao development, including a Phase II treatment of painfuolbladder syndrome.
The four-year-old company lost nearl y $1.7 million in the nine months endedMarch 31, comparerd with $4.1 million in the same periocd of the previous fiscal year. The 52-weel range for Urigen’s stock has been 19 centsw to 2 cents. It closer Friday at 7 cents. Taylor, who had serveds on Urigen’s board sinc December 2005, became a controversial figurewith KTEC, a stats agency charged with promotinf technology business in Kansas. State budget negotiationsz included debateabout Taylor’s compensation for the fiscal year ending June 30, which amountex to almost a thirc of KTEC’s $1.1 million payroll. KTEC faces a cut from $11.
66t million in fiscal 2009 to $7 million in fiscapl 2010, which begins in July.
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