ContraVir Pharmaceuticals Announces Adjournment of Annual Meeting of Stockholders until March 9, 2018
February 21 2018 - 4:30PM
3 of 4 Proposals pass with stockholder
approval
ContraVir Pharmaceuticals, Inc. (NASDAQ:CTRV), a biopharmaceutical
company focused on the development and commercialization of
targeted antiviral therapies, today announced that its 2017 Annual
Meeting of Stockholders ("Annual Meeting"), scheduled for
Wednesday, February 21, 2018, was convened on Proposals 1, 2 and 3
each as set forth in the company’s Definitive Proxy Statement filed
with the Securities and Exchange Commission on January 24, 2018
with all such proposals having been ratified and approved in
accordance with applicable law, rules and regulations.
The company adjourned the Annual Meeting with respect to
Proposal 4 - Approval of Reverse Stock Split. While Proposal 4 has
exceeded 90% approval based on votes cast to date, approval of more
than 50% of all outstanding shares of ContraVir common stock as of
January 23, 2018 is necessary for the proposal to be ratified and
approved. At the meeting, it was deemed that the holders of a
sufficient number of ContraVir’s outstanding common stock have not
yet submitted proxies to indicate how their shares should be voted
and additional time was needed to collect the required votes.
The adjournment will allow for the solicitation of additional votes
on Proposal 4. The Annual Meeting will resume with respect to
Proposal 4 at 9:00 a.m. EST on March 9, 2018 at the company’s
offices located at 399 Thornall Street, First Floor, Edison, New
Jersey 08837.
The company will continue to solicit proxies from stockholders
with respect to Proposal 4 during the period of adjournment.
Only stockholders of record on the record date of January 23, 2018
are entitled and are being requested to vote. No further
action is required by any stockholder who has submitted his or her
proxy card. The company’s Board of Directors and management
respectfully request all such holders as of the record date who
have not yet voted their shares to do so by 11:59 p.m. EST on
Thursday, March 8, 2018.
How to Vote
For assistance in voting your shares or for general inquiries
please contact our proxy advisor
Kingsdale Advisors
(800) 749-9890 (toll
free)shermina@kingsdaleadvisors.com
About ContraVir Pharmaceuticals
ContraVir is a biopharmaceutical company focused on the
development and commercialization of targeted antiviral therapies
with a specific focus on developing a potentially curative therapy
for hepatitis B virus (HBV). The company is developing two novel
anti-HBV compounds with complementary mechanisms of action. TXL™,
designed to deliver high intrahepatic concentrations of TFV while
minimizing off-target effects caused by high levels of circulating
TFV (bone and kidney), recently completed a Phase 2a trial. CRV431,
the other anti-HBV compound, is a next-generation cyclophilin
inhibitor with a unique structure that increases its potency and
selective index against HBV. In vitro and in vivo studies have thus
far demonstrated that CRV431 reduces HBV DNA and other viral
proteins, including surface antigen (HBsAg). For more information
visit www.contravir.com.
Forward Looking Statements
Certain statements in this press release are forward-looking
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements may be identified by the use of
forward-looking words such as "anticipate," "believe," "forecast,"
"estimated" and "intend," among others. These forward-looking
statements are based on ContraVir's current expectations and actual
results could differ materially. There are a number of factors that
could cause actual events to differ materially from those indicated
by such forward-looking statements. These factors include, but are
not limited to, substantial competition; our ability to continue as
a going concern; our need for additional financing; uncertainties
of patent protection and litigation; uncertainties with respect to
lengthy and expensive clinical trials, that results of earlier
studies and trials may not be predictive of future trial results;
uncertainties of government or third party payer reimbursement;
limited sales and marketing efforts and dependence upon third
parties; and risks related to failure to obtain FDA clearances or
approvals and noncompliance with FDA regulations. As with any drug
candidates under development, there are significant risks in the
development, regulatory approval, and commercialization of new
products. There are no guarantees that future clinical trials
discussed in this press release will be completed or successful, or
that any product will receive regulatory approval for any
indication or prove to be commercially successful. ContraVir does
not undertake an obligation to update or revise any forward-looking
statement. Investors should read the risk factors set forth in
ContraVir's Form 10-K for the year ended June 30, 2017 and other
periodic reports filed with the Securities and Exchange
Commission.
Important Information In
connection with the solicitation of proxies, on January 24, 2018,
ContraVir Pharmaceuticals, Inc. filed a definitive proxy statement
with the Securities and Exchange Commission (the "SEC") in
connection with the Company's 2017 Annual Meeting. CONTRAVIR'S
STOCKHOLDERS ARE STRONGLY ADVISED TO READ THE DEFINITIVE PROXY
MATERIALS AND ANY OTHER RELEVANT SOLICITATION MATERIALS FILED BY
CONTRAVIR WITH THE SEC BEFORE MAKING ANY VOTING OR INVESTMENT
DECISION BECAUSE THESE DOCUMENTS CONTAIN IMPORTANT INFORMATION. The
Company's proxy statement and any other materials filed by the
Company with the SEC can be obtained free of charge at the SEC's
web site at www.sec.gov. The Company's definitive proxy materials
are also available for free from ContraVir www.contravir.com or by
writing to ContraVir at 399 Thornall Street, First Floor,
Edison, New Jersey 08837, Attention: Investor Relations. The
contents of the websites referenced above are not deemed to be
incorporated by reference into the proxy statement.
ContraVir Pharmaceuticals, Inc. and its directors and executive
officers may be deemed to be participants in the solicitation of
proxies from the stockholders of ContraVir in connection with the
Company's 2017 Annual Meeting of Stockholders. Information
concerning the interests of participants in the solicitation of
proxies is included in the definitive proxy statement filed by
ContraVir with the SEC on January 24, 2018 in connection with its
2017 Annual Meeting of Stockholders.
For further information, please contact:
Sharen Pyatetskaya Director of Investor Relations
sp@contravir.com; (732) 902-4028
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