Apricus Biosciences Inc. has announced that President and CEO Bassam Damaj has resigned the top job as well as his position on the board of directors.

Chief Financial Officer Steve Martin will serve as interim CEO, as the pharmaceutical company employs a search firm to look for a new CEO, Apricus said.

Rusty Ray, chairman of the Apricus board, thanked Damaj for his leadership and contributions.

Apricus is based in Carmel Valley and has four approved products, as well as what it calls “a strong pipeline” of multiple late-stage product candidates. Shares of the company trade on the Nasdaq under the symbol APRI.

— SDBJ Staff Report