NexGel, Inc. announced the termination of CEO Adam Levy without cause and his resignation from all board and officer roles effective August 21, 2026. Brian Kieser was appointed Interim CEO to lead a strategic review aimed at improving liquidity and operational efficiency. A Special Committee for Strategic Review and Value Creation has been formed to evaluate non-core assets and capital structure alternatives over the next 30-45 days. Levy will provide 90 days of transition assistance while separation terms are finalized. NexGel develops and manufactures hydrogel-based healthcare, beauty, and consumer products.

NexGel reported Q2 2026 revenue of $3.69 million and a net loss of $2.87 million, driven by integration costs from its mid-April acquisition of Celularity and a strategic recall of SilverSeal inventory for hospital market launch. The company faces supply chain constraints resulting in a BioNX Surgical backlog of approximately $795,000. Additionally, the proxy solicitation to increase authorized shares and approve a reverse stock split failed due to broker non-votes linked to a redomicile proposal; management plans to resolicit these votes as standalone items by late September. NexGel operates in the healthcare and consumer products industry, manufacturing hydrogel-based medical and aesthetic devices.

NexGel, Inc. held its Annual Meeting of Stockholders on July 31, 2026. Shareholders elected seven directors to the Board; Scott R. Henry was not re-elected as he resigned effective July 1, 2026. The company received shareholder approval for the issuance of shares upon conversion of convertible notes and exercise of warrants from April and May 2026 private placements under Nasdaq Listing Rule 5635(d). However, three proposals failed to receive majority support: reincorporation from Delaware to Nevada, increasing authorized common stock from 25 million to 100 million shares, and authorizing a reverse stock split with a ratio between 1-for-2 and 1-for-10. Advisory say-on-pay compensation approval and the ratification of Turner, Stone & Company as independent auditors were both approved. NexGel operates in the medical device industry, developing technologies for wound care and tissue regeneration.

Scott Henry resigned from the NexGel, Inc. Board of Directors, effective July 1, 2026. Mr. Henry served as the Chairperson of the Audit Committee and a member of the Compensation Committee and Nominating and Corporate Governance Committee. NexGel, Inc. operates in the specialty chemical industry, developing and manufacturing high-performance gel-based products.