Hepion Pharmaceuticals Announces Postponement of 2021 Annual Meeting of Stockholders
July 23 2021 - 4:40PM
Hepion Pharmaceuticals, Inc. (NASDAQ:HEPA), a clinical stage
biopharmaceutical company focused on the development of therapeutic
drugs for the treatment of liver disease arising from non-alcoholic
steatohepatitis ("NASH"), today announced the postponement of its
adjourned 2021 Annual Meeting of Stockholders (the "Annual
Meeting") that was to be held on July 23, 2021, at 9:00
a.m. Eastern Time due to a lack of a quorum. The meeting will be
rescheduled for a date yet to be determined by the Board of
Directors. The Board of Directors will establish a new record date
for the Annual Meeting and, based on this record date, the Company
will deliver a notice of the new Annual Meeting date to
stockholders entitled to receive notice of the Annual Meeting.
About Hepion
Pharmaceuticals
The Company's lead drug candidate, CRV431, is a
potent inhibitor of cyclophilins, which are involved in many
disease processes. CRV431 is currently in clinical-phase
development for the treatment of NASH, with the potential to play
an important role in the overall treatment of liver disease - from
triggering events through to end-stage disease. CRV431 has been
shown to reduce liver fibrosis and hepatocellular carcinoma tumor
burden in experimental models of NASH; and has demonstrated
antiviral activities towards HBV, HCV, and HDV through several
mechanisms, in nonclinical studies.
Hepion has created a proprietary AI platform,
called AI-POWR™, which stands for Artificial
Intelligence - Precision
Medicine; Omics (including genomics,
proteomics, metabolomics, transcriptomics, and
lipidomics); World database access;
and Response and clinical outcomes. Hepion
intends to use AI-POWR™ to help identify which NASH patients will
best respond to CRV431, potentially shortening development
timelines and increasing the delta between placebo and treatment
groups. In addition to using AI-POWR™ to drive its ongoing Phase 2a
NASH program, Hepion will use the platform to identify additional
potential indications for CRV431 to expand the company's footprint
in the cyclophilin inhibition therapeutic space.
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 Hepion
Pharmaceuticals’ 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; risks associated with delays,
increased costs and funding shortages caused by the COVID-19
pandemic; 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. Hepion Pharmaceuticals does not undertake
an obligation to update or revise any forward-looking statement.
Investors should read the risk factors set forth in Hepion
Pharmaceuticals’ Form 10-K for the year ended December 31, 2020 and
other periodic reports filed with the Securities and Exchange
Commission.
For further information, please contact:
Stephen KilmerHepion Pharmaceuticals Investor RelationsDirect:
(646) 274-3580skilmer@hepionpharma.com
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