Centessa Pharmaceuticals plc announced that Mario Alberto Accardi, PhD, will become chief executive officer effective January 1, 2026. Accardi, the founder and president of the company’s orexin program, brings a decade of experience in orexin‑receptor research and was previously the chief scientific officer of Orexia Therapeutics before its acquisition by Centessa in 2021.
Saurabh Saha will step down as CEO on the same date and will remain on the board as an advisor. The transition follows a deliberate shift that has positioned Centessa as a focused orexin‑centric developer, with Accardi’s deep expertise in OX2R agonist development seen as essential for advancing the company’s pipeline into multiple neuroscience indications.
Financially, Centessa reported a net loss of $54.9 million for the third quarter of 2025, but the company maintains a strong cash position that is expected to fund operations through mid‑2027. A recent $250 million follow‑on equity offering has further bolstered the balance sheet, providing capital to support the launch of the ORX750 registrational program slated for Q1 2026.
The announcement triggered a 4 % decline in the company’s shares on the day of the news, reflecting investor uncertainty around the leadership change. Earlier, a 28 % drop on November 5, 2025, had been driven by mixed Phase IIa results for ORX750, underscoring the market’s sensitivity to clinical milestones in the competitive orexin space.
Chairman Francesco De Rubertis said, “This leadership transition underscores Centessa’s strategic evolution from an R&D‑driven start‑up with a diversified early‑stage pipeline to an organization focused on advancing a pure‑play orexin portfolio positioned at the forefront of this rapidly emerging therapeutic class.” Accardi added, “OX2R agonists represent one of the most compelling growth opportunities in neuroscience, and Centessa’s leading orexin franchise is well positioned to capitalize on this potential.”
The move signals a sharpened focus on the orexin program, with candidates such as ORX750 for narcolepsy and idiopathic hypersomnia, ORX142 for neurodegenerative disorders, and ORX489 for neuropsychiatric conditions. While the company faces ongoing financial challenges, the appointment of a program founder to the CEO role is intended to accelerate development timelines and strengthen positioning against competitors like Takeda’s OX2R agonist and Alkermes’ alixorexton.
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