Xenetic Biosciences Announces Dismissal of Annual Meeting of Stockholders
August 23 2017 - 8:05AM
Business Wire
- Annual Meeting Rescheduled for October 5,
2017 -
Xenetic Biosciences, Inc. (NASDAQ: XBIO) (“Xenetic” or the
“Company”), a clinical-stage biopharmaceutical company focused on
the discovery, research and development of next-generation biologic
drugs and novel orphan oncology therapeutics, today announced that
its 2017 Annual Meeting of Stockholders ("Annual Meeting"),
scheduled for Wednesday, August 16, 2017, was convened and
dismissed, without any business being conducted, due to lack of the
requisite quorum. The Annual Meeting has now been rescheduled for
Thursday, October 5, 2017 at a place and time still to be
determined by the Board of Directors, in order to allow additional
time for stockholders to receive new proxy materials and vote on
the updated proposals to be set forth in Xenetic's definitive proxy
statement on Schedule 14A, which will be amended or supplemented to
include the updated proposals. Such amendment or supplement to the
proxy statement will be filed with the Securities and Exchange
Commission and mailed to the Company’s stockholders as soon as
reasonably practicable. A new record date for the Annual Meeting
has yet to be determined but will be included in the updated proxy
materials, along with the time and location of the Annual
Meeting.
The Company strongly advises all of its stockholders to read the
proxy statement (including any amendments or supplements thereto,
once they become available) and other proxy materials relating to
the Annual Meeting because they contain important information. Such
proxy materials will be available at no charge on the Securities
and Exchange Commission's website at www.sec.gov. In addition,
copies of the proxy statement (including any amendments or
supplements thereto) and other documents will be available free of
charge as soon as reasonably practicable by accessing the Company’s
website at www.xeneticbio.com or by contacting the Company’s
Corporate Secretary at 781-778-7720 or by mail to Corporate
Secretary, Xenetic Biosciences, Inc., 99 Hayden Ave., Ste. 230,
Lexington, MA 02421.
About Xenetic Biosciences
Xenetic Biosciences, Inc. is a clinical-stage biopharmaceutical
company focused on the discovery, research and development of
next-generation biologic drugs and novel orphan oncology
therapeutics. Xenetic's proprietary drug development platforms
include PolyXen, which enables next-generation biologic drugs by
improving their half-life and other pharmacological properties.
Xenetic's lead investigational product candidates include oncology
therapeutic XBIO-101 (sodium cridanimod) for the treatment of
progesterone resistant endometrial cancer, and a polysialylated
form of erythropoietin for the treatment of anemia in pre-dialysis
patients with chronic kidney disease.
Xenetic is party to an agreement with Baxalta US Inc. and
Baxalta AB (wholly owned subsidiaries of Shire plc) covering the
development of a novel series of polysialylated blood coagulation
factors. This collaboration relies on Xenetic's PolyXen technology
to conjugate polysialic acid (“PSA”) to therapeutic blood-clotting
factors, with the goal of improving the pharmacokinetic profile and
extending the active life of these biologic molecules. Shire is a
significant stockholder of the Company, having invested $10 million
in the Company during 2014. The agreement is an exclusive research,
development and license agreement which grants Shire a worldwide,
exclusive, royalty-bearing license to Xenetic's PSA patented and
proprietary technology in combination with Shire's proprietary
molecules designed for the treatment of blood and bleeding
disorders. The first program under this agreement was a next
generation Factor VIII, and this program was terminated by Shire
following a Phase 1/2 clinical trial. Xenetic and Shire are
currently exploring whether to engage in further development of
other blood coagulation factors. Additionally, Xenetic has
previously received strategic investments from OPKO Health (Nasdaq:
OPK), Serum Institute of India Limited and PJSC Pharmsynthez.
Xenetic is also developing a broad pipeline of clinical
candidates for next-generation biologics and novel oncology
therapeutics in a number of orphan disease indications. For more
information, please visit the Company's website at
www.xeneticbio.com and connect on Twitter, LinkedIn, Facebook and
Google+.
Forward-Looking Statements
This press release contains forward-looking statements for
purposes of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements contained in this
press release other than statements of historical facts may
constitute forward-looking statements within the meaning of the
federal securities laws. These statements can be identified by
words such as "expects," "plans," "projects," "will," "may,"
"anticipates," "believes," "should," "intends," "estimates," and
other words of similar meaning, including statements regarding
changes to the proposals included in the Company’s proxy statement
and the Company’s plans to amend or supplement its proxy statement.
Any forward-looking statements contained herein are based on
current expectations, and are subject to a number of risks and
uncertainties. Many factors could cause our actual activities or
results to differ materially from the activities and results
anticipated in forward-looking statements. These risks and
uncertainties include those described in the "Risk Factors" section
of the Company’s Annual Report on Form 10-K for the fiscal year
ended December 31, 2016 and filed with the Securities and Exchange
Commission on March 31, 2017, and subsequent reports that it may
file with the Securities and Exchange Commission. In addition,
forward-looking statements may also be adversely affected by
general market factors, competitive product development, product
availability, federal and state regulations and legislation, the
regulatory process for new product candidates and indications,
manufacturing issues that may arise, patent positions and
litigation, among other factors. The forward-looking statements
contained in this press release speak only as of the date the
statements were made, and the Company does not undertake any
obligation to update forward-looking statements, except as required
by law.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170823005163/en/
Jenene Thomas Communications, LLC.Jenene Thomas,
908-938-1475jenene@jenenethomascommunications.com
Opko Health (NASDAQ:OPK)
Historical Stock Chart
From Aug 2024 to Sep 2024
Opko Health (NASDAQ:OPK)
Historical Stock Chart
From Sep 2023 to Sep 2024