Dogwood Therapeutics shareholders approve equity plan amendment and elect directors

Dogwood Therapeutics, Inc. (NASDAQ:DWTX) announced Tuesday that its shareholders approved an amendment to the company’s Amended and Restated 2020 Equity Incentive Plan at the annual meeting held on June 18. The amendment increases the number of shares of common stock reserved for issuance under the plan by 108,612 shares, raising the total from 82,500 to 191,112 shares. The board of directors had previously approved the amendment on April 17.

The company reported that 921,595 shares, representing 48.22% of the company’s voting power as of the April 29 record date, were present in person or by proxy at the meeting, constituting a quorum.

Shareholders also elected seven nominees to the board of directors. The directors elected and votes “for” each were: Abel De La Rosa, Ph.D. (280,845), Greg Duncan (280,056), David Keefer (279,347), John C. Thomas, Jr. (279,276), Melvin Toh, M.B.B.S. (280,924), Richard J. Whitley, M.D. (280,166), and Alan Yu (281,022). Each nominee received a majority of votes in favor, with between 1,764 and 3,510 votes withheld per candidate, and 638,809 broker non-votes recorded for each.

In addition, shareholders ratified the appointment of Forvis Mazars, LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The ratification received 888,808 votes in favor, 31,671 against, and 1,116 abstentions.

All matters presented at the meeting were approved with the required votes.

The company also noted that the amended equity incentive plan reflects adjustments following the effectiveness of a 25-for-1 reverse stock split that took place on October 9, 2024. With a strong current ratio of 7.43 and an overall FAIR financial health rating from InvestingPro, investors seeking deeper insights can access comprehensive analysis and additional ProTips through the platform’s detailed research reports.

This information is based on a statement from the company’s recent SEC filing.

In other recent news, Dogwood Therapeutics, Inc. has made significant strides in its financial and clinical endeavors. The company has regained compliance with Nasdaq’s minimum stockholders’ equity requirement after previously falling below the $2.5 million threshold. This was achieved through a series of strategic transactions, including a Debt Exchange and Cancellation Agreement and raising approximately $4.8 million by selling common stock shares to institutional investors. Dogwood now reports a strong cash position of $17.5 million with no debt, as of the end of the first quarter.

H.C. Wainwright upgraded Dogwood’s stock rating from Neutral to Buy, doubling the price target to $10.00. This upgrade is influenced by the anticipated interim results from the Phase 2b study of Halneuron, Dogwood’s lead candidate for chemotherapy-induced neuropathic pain. The study is expected to provide insights into the progress of Halneuron, with full results anticipated by mid-2026. Additionally, Dogwood has received FDA special protocol assessment approval for a Phase 3 study of Halneuron, set to commence in 2026.

The company is also advancing its antiviral program, with IMC-1 and IMC-2 targeting conditions like fibromyalgia and Long-COVID. IMC-1 is preparing for Phase 3 trials, while IMC-2 is moving into Phase 2b research, focusing on fatigue reduction in Long-COVID patients. These developments indicate a robust pipeline for Dogwood, with significant clinical and financial progress.

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