Neuphoria Therapeutics Evaluates Lynx1 Acquisition Proposal
Neuphoria Therapeutics issued the following statement in response to dissident stockholder, Lynx1 Master Fund's, revised indication of interest to acquire the Company. As previously announced, the Board - with assistance of its independent financial and legal advisors - is in the midst of a robust and comprehensive review of strategic alternatives to consider alternative assets, strategic pathways and/or to advance the Company's promising pipeline program to maximize value for all stockholders. The Company has paused its research and development expenditures for BNC210 in PTSD and is evaluating all possibilities as part of the Company's strategic review. This process is well underway and the Company has received substantial reciprocal interest from potential counterparties across a range of sectors. In addition, several parties have already engaged with the Company under confidentiality arrangements, and discussions are ongoing through the Company's financial advisor, H.C. Wainwright & Co, and its independent legal advisors. The Board is continuing to evaluate all proposals, including the new unsolicited proposal submitted by Lynx1. The Board, in consultation with its advisors, will review Lynx1's new proposal in the same manner that it reviews any other proposals received as part of its strategic alternative review process and subject it to all the same processes and procedures that apply to any other proposal - despite Lynx1's seeming determination to operate outside that process, the only such party doing so at this time.
