ROCKVILLE, Md., Oct. 6, 2021 /PRNewswire/ -- Synthetic
Biologics, Inc. (NYSE American: SYN), a diversified
clinical-stage company leveraging the microbiome to develop
therapeutics designed to prevent and treat gastrointestinal ("GI")
diseases in areas of high unmet need, today announced the
Company's reconvened annual meeting of shareholders, on
October 6, 2021, at 9:30 a.m. ET, was adjourned for a second time
without any business being conducted due to lack of the required
quorum.
A quorum consists of a majority of the shares entitled to vote.
There were fewer than a majority of shares entitled to vote
present, either in person or by proxy at this meeting.
Approximately 48.6% of the shares of the Company's common stock
outstanding as of the record date were properly voted at the time
of the annual meeting. The annual meeting of shareholders therefore
had no quorum and the meeting was adjourned for a second time and
will reconvene at 9:30 a.m. ET on Thursday,
October 14, 2021 at the Company's corporate headquarters
9605 Medical Center Drive, Suite 270, Rockville, MD 20850 to allow additional time
for the Company's shareholders to vote on the proposals set forth
in the Company's definitive proxy statement filed with the United
States Securities and Exchange Commission (the "S.E.C.") on
August 16, 2021.
During the current adjournment, the Company will continue to
solicit votes from its shareholders with respect to the proposals
set forth in the Company's proxy statement. As set forth in the
proxy statement, the Company has engaged a proxy solicitor, D.F.
King & Co., Inc. to assist management with obtaining adequate
votes to achieve the required quorum of at least a majority of the
outstanding shares of common stock.
The Company encourages all shareholders of record, as of the
record date August 9, 2021, who have
not yet voted, to do so by October 13,
2021 at 11:59 p.m. ET.
Shareholders who have any questions or require any assistance with
completing a proxy or voting instruction form or who do not have
the required materials, may contact D.F. King & Co., Inc. using
the following contact information 48 Wall Street, 22nd
Floor, New York, NY 10005,
Telephone: Toll Free: 1-800-859-8509 and Outside North America:
+1-212-269-5550. Email: synthetic@dfking.com.
About Synthetic Biologics, Inc.
Synthetic Biologics, Inc. (NYSE American: SYN) is a diversified
clinical-stage company leveraging the microbiome to develop
therapeutics designed to prevent and treat gastrointestinal (GI)
diseases in areas of high unmet need. The Company's lead candidates
are: (1) SYN-004 (ribaxamase) which is designed to degrade certain
commonly used intravenous (IV) beta-lactam antibiotics within the
gastrointestinal (GI) tract to prevent (a) microbiome damage, (b)
Clostridioides difficile infection (CDI), (c)
overgrowth of pathogenic organisms, (d) the emergence of
antimicrobial resistance (AMR), and (e) acute
graft-versus-host-disease (aGVHD) in allogeneic hematopoietic cell
transplant (HCT) recipients, and (2) SYN-020, a recombinant oral
formulation of the enzyme intestinal alkaline phosphatase (IAP)
produced under cGMP conditions and intended to treat both local GI
and systemic diseases. For more information, please visit Synthetic
Biologics' website at www.syntheticbiologics.com.
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. In
some cases, forward-looking statements can be identified by
terminology such as "may," "should," "potential," "continue,"
"expects," "anticipates," "intends," "plans," "believes,"
"estimates," and similar expressions. These
forward-looking statements are based on management's expectations
and assumptions as of the date of this press release and are
subject to a number of risks and uncertainties, many of which are
difficult to predict that could cause actual results to differ
materially from current expectations and assumptions from
those set forth or implied by any forward-looking
statements. Important factors that could cause actual
results to differ materially from current expectations include,
among others, the ability of Synthetic Biologics to receive the
necessary regulatory approvals for commercialization of Synthetic
Biologics' therapeutics, a failure of Synthetic Biologics' clinical
trials, and those conducted by investigators, for SYN-004 and
SYN-020 to be commenced or completed on time, to provide topline
data when anticipated or to achieve desired results and benefits,
especially in light of COVID-19, a failure of Synthetic Biologics'
clinical trials to continue enrollment as expected or receive
anticipated funding, a failure of Synthetic Biologics to
successfully develop, market or sell its products, Synthetic
Biologics' inability to maintain its material licensing agreements,
or a failure by Synthetic Biologics or its strategic partners to
successfully commercialize products and other factors described in
Synthetic Biologics' Annual Report on Form 10-K for the year ended
December 31, 2020 and its other
filings with the SEC, including subsequent periodic reports on
Forms 10-Q and 8-K. The information in this release is provided
only as of the date of this release, and Synthetic Biologics
undertakes no obligation to update any forward-looking statements
contained in this release on account of new information, future
events, or otherwise, except as required by
law.
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SOURCE Synthetic Biologics, Inc.