AIM ImmunoTech Issues Presentation Detailing Case for Re-Electing Current Directors … – BioSpace
AIM ImmunoTech recently released a presentation ahead of its 2024 Annual Meeting of Stockholders. The company is focused on creating long-term value for patients and shareholders by advancing clinical development programs, particularly in the critical area of pancreatic cancer.
AIM’s clinical pipeline is gaining momentum and paving the way for commercialization opportunities. Exciting data from ongoing trials with AstraZeneca and Merck are helping to drive substantial value creation.
However, AIM is urging shareholders to be cautious of an activist group and its nominees who may have a self-interested agenda that could jeopardize the company’s progress. The activist group is seeking over $5 million from AIM to cover past takeover attempts and legal battles, without seeking shareholder approval.
Despite efforts to reach a settlement, the activist group is demanding an exorbitant amount that represents more than 50% of AIM’s current market capitalization. The activist group has also suggested appointing an individual with a questionable track record as interim CEO if their nominees gain control of the board.
AIM is encouraging shareholders to review their presentation and support the board’s incumbent candidates by voting “FOR” all four of them, while disregarding any proxy materials from the activist group. Shareholders can access the presentation for more details.
