Less than three months after LipoScience downgraded its financial forecast, the Raleigh medical diagnostics company cut its revenue projection again and announced on Friday that its CEO resigned after 10 years of steering the company.
LipoScience, which began trading on the Nasdaq exchange in January, said that CEO Richard Brajer resigned "to purse other interests."
The company's shares slipped to $5.87, down 56 cents in mid-morning trading. LipoScience executives were not available for comment Friday, said spokesman Phil Denning.
"The Board and I mutually decided it is the right time for a transition," Brajer said in the press release announcing his resignation.
The company installed board member Robert Greczyn as interim CEO and announced a search for a permanent chief executive. Before joining the company's board in 2011, Greczyn had been CEO of Blue Cross and Blue Shield of North Carolina, the state's biggest insurance company.