Plus Therapeutics, Inc. (NASDAQ:PSTV), a medical device company, announced the results of its Annual Meeting of Stockholders held on Thursday. The meeting saw the election of directors and the approval of other key proposals.
The shareholders elected six members to the Board of Directors for a term expiring at the next Annual Meeting in 2025. Howard Clowes received 1,175,799 votes for, and 107,484 withheld, with 1,200,839 broker non-votes. An van Es-Johansson, M.D., garnered 1,178,415 votes for, and 104,868 withheld, with the same number of broker non-votes. Richard J. Hawkins (NASDAQ:HWKN) had 1,159,421 votes for, and 123,862 withheld. Marc H. Hedrick, M.D., the current President and CEO, was elected with 1,183,165 votes for, and 100,118 withheld. Robert Lenk, Ph.D., received 1,176,767 votes for, and 106,516 votes withheld. Lastly, Greg Petersen was elected with 1,183,545 votes for, and 99,738 withheld.
In addition to the election of directors, the shareholders ratified the appointment of BDO USA, P.C. as the company's independent registered public accounting firm for the 2024 fiscal year with 2,434,053 votes for, 44,854 against, and 5,215 abstentions.
An advisory vote on the compensation of the company's named executive officers was approved with 1,115,004 votes for, 163,917 against, and 4,362 abstentions.
Furthermore, the stockholders approved the fourth amendment and restatement of the company's 2020 Stock Incentive Plan with 1,097,650 votes for, 182,432 against, and 3,201 abstentions.
The meeting, which was held virtually, had a quorum with 2,484,122 shares represented in person or by proxy out of the 5,704,219 shares issued and outstanding as of June 25, 2024, the record date.
In other recent news, Plus Therapeutics, Inc. disclosed significant clinical and financial updates. The company's recent earnings call highlighted the safety and potential of their CNS cancer treatments, including promising data from their ReSPECT-LM trial.
Plus Therapeutics reported a solid financial position, with a cash and investments balance of $8.4 million and anticipated grant revenue of $6 million to $7 million for the year. The company also secured a $3 million award from the U.S. Department of Defense for a pediatric brain cancer trial.
In addition, Plus Therapeutics is planning to complete enrollment for a potential pivotal trial by the end of 2024 or early 2025. The company also expressed its intentions to provide updates on Phase 1 and Phase 2 data at an upcoming conference and is working towards FDA approval for a trial.
Despite the Phase 1 single administration trial facing delays, the company remains optimistic about the trial’s enrollment timeline. These are the recent developments for Plus Therapeutics.
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