TSX gains after CPI shows US inflation rose 3%
Aditxt, Inc. (NASDAQ:ADTX), a micro-cap company with a market capitalization of just $4.92 million, reported Wednesday that shareholders approved all proposals at its reconvened annual meeting, including the re-election of directors, ratification of its auditor, and granting authority for a potential reverse stock split. The stock has declined nearly 86% over the past six months, according to InvestingPro data.
The meeting was held Tuesday after being adjourned from its initial virtual session on September 15 to allow more time for voting. A total of 1,665,180 shares, representing 33.59% of voting authority, were present in person, virtually, or by proxy, constituting a quorum.
Shareholders re-elected Amro Albanna, Shahrokh Shabahang, Brian Brady, Charles Nelson, and Sylvia Hermina to the board of directors. The vote counts for each director ranged from 626,919 to 651,828 shares in favor, with between 99,353 and 124,262 shares withheld.
The appointment of dbbmckennon LLC as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified with 1,506,751 votes in favor, 92,439 against, and 65,990 abstentions.
Shareholders also granted the board discretionary authority to implement a reverse stock split at a ratio between 1-for-5 and 1-for-250, to be enacted within one year if the board decides to proceed. The proposal received 1,178,583 votes in favor, 473,001 against, and 13,596 abstentions. The company’s current ratio of 0.02 indicates significant liquidity challenges, though InvestingPro data shows analysts anticipate sales growth of 43.78% in the current fiscal year. Subscribers can access 8 additional key insights about ADTX on InvestingPro.
These results are based on a press release statement contained in the company’s filing with the Securities and Exchange Commission.
In other recent news, Evofem Biosciences, Inc. expects its stockholders to approve a merger with Aditxt, Inc. at an upcoming Special Meeting. The company has already secured support agreements from preferred stockholders representing a majority of the voting power needed to move forward with the merger. Meanwhile, Aditxt’s subsidiary, Adimune, is targeting an early 2026 FDA submission for first-in-human trials related to type 1 diabetes and stiff person syndrome. Aditxt has also entered into a custody agreement with Crypto.com to support its digital treasury initiative, which aligns with its strategy to integrate financial technology and biotechnology. Additionally, Aditxt’s subsidiary, Pearsanta, has engaged Spartan Capital Securities as the lead underwriter for its planned initial public offering aimed at advancing its diagnostic tests. Pearsanta has also been invited to submit a full proposal for a U.S. Department of Defense grant focused on ovarian cancer research. These developments highlight Aditxt’s ongoing efforts to expand its technological and financial footprint in the biotech sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.