NEXGEL, Inc. announced the appointment of Scott Henry, CFA as a new independent director to the Company's Board of Directors, effective immediately. Mr. Henry will also serve as a member of the Board's Audit Committee. Mr. Henry, CFA, is a Managing Director, Senior Research Analyst at ROTH Capital Partners with 20 years of sell-side coverage in the pharmaceutical, biotechnology and medical device sectors.

He has previously held positions with firms including Oppenheimer, Thomas Weisel Partners, ABN AMRO and Leerink Swann & Co. Mr. Henry has received numerous awards, including rankings in the Wall Street Journal “Best on the Street” stock picking survey, Forbes/Zacks Investment Research “Best Analysts” for the drugs category and Forbes.com/StarMine rankings for earnings estimate accuracy. His investment views have been cited in the Wall Street Journal and the New York Times, and he has made frequent appearances on CNBC, CBS MarketWatch and Bloomberg.

Mr. Henry attended the University of Rhode Island and received an M.B.A. with distinction from Cornell University. On January 16, 2023, Yaakov Spinrad resigned as a member of the Board. Mr. Spinrad was a member of the Board's Compensation Committee and Nominating and Corporate Governance Committee.

Mr. Spinrad's resignation was not as a result of any disagreement with the Company or any of its subsidiaries on any matters related to their operation, policies or practices. Board Committees Reconstitution: On January 16, 2023 and in connection with Mr. Henry's appointment, Mr. Spinrad's resignation, and the determination that all members of the Board except for Adam Levy are “independent”, the Board reconstituted its Audit Committee, Compensation Committee and the Nominating and Corporate Governance Committee as follows: Audit Committee: Steve Glassman; Scott Henry and Miranda Toledano (Chair). Compensation Committee: Steve Glassman; David Stefansky (Chair) and Nachum Stein.

Nominating and Corporate Governance Committee: David Stefansky, Miranda Toledano and Jerry Zeldis (Chair).