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WALTHAM, Mass. - OptimizeRx Corp. (NASDAQ:OPRX), a healthcare technology company specializing in solutions for the life sciences industry, confirmed today that it has received a notice from Whetstone Capital Advisors, LLC. The notice states Whetstone’s intention to nominate two candidates for election to the OptimizeRx Board of Directors at the upcoming 2025 Annual Meeting of Stockholders. The announcement comes as the company’s stock has declined over 72% in the past year, though InvestingPro analysis indicates the stock is currently undervalued.
The specific date for the Annual Meeting has not been announced. However, the OptimizeRx Board will issue a formal recommendation to its stockholders regarding the nominations in the definitive proxy statement. This document will be filed with the Securities and Exchange Commission and distributed to eligible voting stockholders. Despite recent challenges, the company maintains a strong financial position with a current ratio of 3.23, indicating ample liquidity to meet short-term obligations.
OptimizeRx is known for its AI-driven tools such as the Dynamic Audience Activation Platform and Micro-Neighborhood Targeting, which aim to enhance the connection between healthcare professionals, patients, and life science brands. The company emphasizes patient privacy and strives to deliver impactful therapies to patients efficiently. While currently unprofitable, analysts tracked by InvestingPro expect the company to return to profitability this year, with two analysts recently revising their earnings estimates upward.
The press release also includes forward-looking statements about the company’s expectations and projections, which are subject to various risks and uncertainties. These statements are not guarantees of future performance, and actual results may differ.
The company will file proxy materials with the SEC in preparation for the 2025 Annual Meeting, urging stockholders to review these materials once available. Additional information about the participants in the proxy solicitation and their interests will be included in the proxy statement and other relevant documents filed with the SEC.
This news is based on a press release statement from OptimizeRx.
In other recent news, OptimizeRx Corp. has announced a significant leadership transition with the appointment of Steve Silvestro as the new Chief Executive Officer. Silvestro, who has been with the company since 2019 and previously served as President, will take over from William J. Febbo, who is stepping down after nearly nine years at the helm. This change comes as the company maintains its financial guidance for 2024, projecting results at the higher end of its revenue and adjusted EBITDA estimates. During Febbo’s tenure, OptimizeRx expanded its product offerings and increased its annual revenue significantly.
Meanwhile, analyst firms have shared their perspectives on this leadership change. Lake Street Capital Markets continues to hold a Buy rating for OptimizeRx, expressing confidence in the Board of Directors’ ability to find a suitable permanent CEO. Stifel also reiterated its Buy rating, highlighting the company’s shift towards a consistent growth strategy. Additionally, B.Riley adjusted its price target for OptimizeRx to $13.00 from $17.00, while still endorsing the stock with a Buy rating. These developments indicate a positive outlook from analysts despite the executive transition, with a focus on operational execution and strategic growth.
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