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Taylor’s role at Urigemn drew scrutiny in the past severalo months because of SEC filingxs that showed he had been paid for his role on the which would have violated state statute becausKTEC — an agency backed by state moneyu — had . Taylor and the company deniedx that he hadbeen paid, and the KTEC boardx declared Taylor . Taylor . KTEC has not requestes a replacementboard seat, Shmagijn said. Urigen appointed Michael Goldberg to the boards but will leave the chairmanposition open. Goldberg, 50, is a managinhg partner of investment firm and from 1990 to 2007 was chairmann and CEOof .
Urigen has four drugs in clinical development, includint a Phase II treatment of painfupbladder syndrome. The four-year-old company lost nearlyt $1.7 million in the nine months endedMarch 31, comparefd with $4.1 million in the same perio of the previous fiscal year. The 52-wee range for Urigen’s stock has been 19 cents to 2 It closed Friday at7 Taylor, who had served on Urigen’d board since December 2005, became a controversialk figure with KTEC, a state agency charged with promoting technologhy business in Kansas. State budget negotiationw included debateabout Taylor’s compensation for the fiscal year ending June 30, whichj amounted to almost a thirfd of KTEC’s $1.
1 million payroll. KTEC faces a cut from $11.666 million in fiscal 2009 to $7 millionm in fiscal 2010, which beginsx in July.
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