MENLO PARK, Calif.,
Aug. 14, 2018 /PRNewswire/
-- BioPharmX Corporation (NYSE American: BPMX), a specialty
pharmaceutical company developing products for the dermatology
market, today held its 2018 Annual Meeting of Shareholders (the
"Annual Meeting"), and announced that each of BioPharmX's director
nominees have been re-elected to the board of directors:
Anja Krammer, Michael Hubbard and Stephen Morlock.
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Shareholders also approved Proposal 3, an amendment to the
company's certificate of incorporation to effect a reverse stock
split at a ratio not less than 1‑for‑2 and not greater than
1‑for‑25, at the discretion of the company's board of
directors. Although the company has no immediate plan to
enact the reverse split, the approval of this proposal provides the
company and board of directors with the flexibility to implement
such a split if and when appropriate. In addition,
shareholders approved Proposal 4, the amendment of the company's
2016 Equity Incentive Plan to increase the number of shares
available thereunder by 50,000,000 shares on pre-split basis, and
remove the limitation on the number of shares that can be issued in
a calendar year to a plan participant; Proposal 5, to ratify the
appointment of BPM LLP as the company's independent registered
public accounting firm for the fiscal year ending January 31, 2019; and Proposal 6, the advisory
vote on the compensation of the company's named executive officers,
each as set forth in the company's Definitive Proxy Statement filed
with the Securities and Exchange Commission ("SEC") on July 6, 2018. Proposal 2, an amendment to
the company's certificate of incorporation to increase the total
number of authorized shares of common stock from 450,000,000 shares
to 900,000,000 shares, was not approved. The company will continue
to evaluate its need for additional shares in the future.
"I would like to thank our shareholders for showing their
support on the measures put forth by the company, as demonstrated
by the affirmative votes cast at today's shareholder meeting," said
Anja Krammer, president of
BioPharmX. "With nearly 150 million shares voted, the approved
proposals allow the company flexibility as it remains committed to
its clinical trial programs and focused on its strategic
initiatives and reinforcing confidence in the business."
Final voting results of the Annual Meeting will be included in a
Current Report on Form 8-K which the company will file with the SEC
within four (4) business days of the Annual Meeting, at which time
it will become available at www.BioPharmX.com and www.sec.gov.
About BioPharmX Corporation
BioPharmX Corporation (NYSE American: BPMX) is a Silicon
Valley-based specialty pharmaceutical company, which seeks to
provide products through proprietary platform technologies for
prescription, over-the-counter (OTC), and supplement applications
in the health and wellness markets, including dermatology and
women's health. To learn more about BioPharmX,
visit www.BioPharmX.com.
Forward-Looking Statements
This press release contains forward-looking statements related to
the company's plans or developments that involve risks,
uncertainties and assumptions, and are subject to the "safe harbor"
of the Private Securities Litigation Reform Act of 1995. These
statements may be identified by words such as "plan," "expect,"
"believe," "intend," "should," "may" or similar expressions.
Additional risks are set forth in the company's filings with the
SEC, including those described in the company's Quarterly Report on
Form 10-Q for the most recent fiscal quarter. The forward-looking
statements included in this news release are made only as of the
date hereof, and the company undertakes no obligation to publicly
update such statements. BioPharmX is a registered trademark of
BioPharmX, Inc.
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SOURCE BioPharmX Corporation