Risk, Cash and a Hostile Takeover: CLINUVEL Considers Nasdaq

He’s been called a reserved CEO who keeps his cards close to his chest. In this wide-ranging conversation, Dr Philippe Wolgen explores some of the thinking behind CLINUVEL.

Following the release of CLINUVEL’s FY2026 Annual Results, CEO Dr Philippe Wolgen sits down with financial commentator and business journalist, Susannah Streeter, to unpack the Company’s considerations whether to fully list on Nasdaq and delist from the ASX — a move fourteen years in the making. They cover the case for leaving Australia; why a cash-rich balance sheet is both CLINUVEL’s best defence and its biggest takeover risk; how the Company’s vitiligo therapy stacks up against Big Pharma’s JAK inhibitors; and where AI fits in a public company boardroom. Plus: succession planning, the lessons of five financial crises, and Philippe’s vision for CLINUVEL by 2030.

Full details of CLINUVEL’s FY2026 financials are available in our 2026 Annual Report at https://annualreport.clinuvel.com.

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