Scopus BioPharma to Adjourn 2021 Annual Meeting of Stockholders
September 28 2021 - 6:00AM
Scopus BioPharma Inc. (Nasdaq:
“SCPS”), a clinical-stage biopharmaceutical company
developing transformational therapeutics for serious diseases with
significant unmet medical need, announced today that, pursuant to a
stipulation with Morris C. Laster, M.D. in connection with pending
claims brought by Dr. Laster in the Delaware Court of Chancery, the
company intends to convene, and then immediately adjourn, the
company’s scheduled October 8, 2021 Annual Meeting of Stockholders
(the “Annual Meeting”) such that the Annual Meeting will be held
and the vote on the items of business to be considered at the
Annual Meeting will be taken no earlier than 14 days after a
decision on the merits or a final settlement between the parties.
The company and Dr. Laster intend to conduct discussions in an
effort to seek to resolve the disputes between the parties and have
also agreed to an expedited timeline for resolving the Delaware
court action.
No business will be conducted at the October 8,
2021 Annual Meeting other than to adjourn the Annual Meeting to a
later date. The company will announce the date on which the
adjourned Annual Meeting will be reconvened at the October 8, 2021
Annual Meeting. The record date for the Annual Meeting will remain
August 16, 2021.
The WHITE proxy card included with the company’s
previously distributed proxy materials will not be updated to
reflect the adjournment and may continue to be used to vote your
shares in favor of the director nominees recommended by the
company’s board of directors (the “Board”) and in accordance with
the Board’s recommendation on the other proposal. Stockholders who
have already voted and do not wish to change their vote do not need
to vote again.
The company intends to keep its stockholders
apprised of any further updates relating to the Annual Meeting as
they become available and will file supplemental proxy materials
with the U.S. Securities and Exchange Commission in the near
future.
About Scopus BioPharma
Scopus BioPharma Inc., both directly and through
subsidiaries, is a clinical-stage biopharmaceutical company
developing transformational therapeutics for serious diseases with
significant unmet medical need. The company’s lead drug candidate
is a novel, targeted immuno-oncology RNA therapy for the treatment
of multiple cancers. This drug candidate is highly distinctive,
encompassing both RNA therapy and immunotherapy by synthetically
linking siRNA to an oligonucleotide TLR9 agonist, creating the
potential for targeted gene silencing with simultaneous TLR
stimulation and immune activation in the tumor microenvironment.
Additional STAT3-targeting immunotherapy drug candidates include
bifunctional antisense and DNA-binding inhibition therapies. In
addition, the company is developing additional drug candidates that
target the endocannabinoid system, including MRI-1867 for the
treatment systemic sclerosis. The company also seeks to identify
additional compelling technologies for potential acquisition,
in-licensing and/or other similar transactions. Receive updates by
following Scopus BioPharma on Twitter here.
Forward-Looking Statements
This press release may include forward-looking
statements that involve risks and uncertainties. Forward-looking
statements are statements that are not historical facts. Such
forward-looking statements are subject to risks (including those
set forth in the company’s Form 10-K for the fiscal year ended
December 31, 2020, as amended, filed with the U.S. Securities and
Exchange Commission (“SEC”)) and uncertainties which could cause
actual results to differ from the forward-looking statements. The
company expressly disclaims any obligations or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the company’s
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
Investors should realize that if our underlying assumptions for the
projections contained herein prove inaccurate or that known or
unknown risks or uncertainties materialize, actual results could
vary materially from our expectations and projections. Further,
there can be no assurance that the company will identify and/or
consummate any transaction relating to any additional
technologies.
Contacts
Rodd Leeds/David WaldmanCrescendo
Communications, LLCTel: (212) 671-1020Email:
SCPS@crescendo-ir.com
Hugh Burns/Delia Cannan/Nicholas LeasureReevemarkTel: (212)
433-4600Email: scopus@reevemark.com
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