Navigation Links
Vion Pharmaceuticals Holds Special Meeting of Stockholders
Date:2/13/2008

Stockholders Approve Board Authority to Implement Reverse Stock Split and

Reduce the Number of Total Shares and Authorized Shares

NEW HAVEN, Conn., Feb. 13 /PRNewswire-FirstCall/ -- VION PHARMACEUTICALS, INC. (Nasdaq: VION) announced that a Special Meeting of Stockholders was held at the Omni Hotel in New Haven, Connecticut today at 10:00 Eastern Time.

At the meeting, shareholders voted to approve amendments to the Company's Restated Certificate of Incorporation to:

-- effect a reverse stock split of the Company's outstanding common stock

of not less than 1-for-5 and not more than 1-for-10, with the exact

ratio to be set within that range by the Board of Directors without

further approval by stockholders; and

-- decrease the total number of shares and the number of shares of common

stock that the Company is authorized to issue.

Alan Kessman, Chief Executive Officer, said, "We are pleased that our shareholders have authorized our Board of Directors to implement a reverse stock split. We will now determine the appropriate split ratio to establish a price for our common stock allowing us to regain compliance with Nasdaq's listing requirements."

Vion Pharmaceuticals, Inc. is committed to extending the lives and improving the quality of life of cancer patients worldwide by developing and commercializing innovative cancer therapeutics. Vion has two agents in clinical trials. Cloretazine(R) (VNP40101M), a unique alkylating agent, is being evaluated in a pivotal Phase II trial as a single agent in elderly patients with de novo poor-risk acute myelogenous leukemia. Clinical trials of Cloretazine(R) (VNP40101M) as a single agent in small cell lung cancer, with temozolomide in brain tumors, and with stem cell transplantation in advanced hematologic malignancies, are also being conducted. Triapine(R), a potent inhibitor of a key step in DNA synthesis, is being evaluated in clinical trials sponsored by the National Cancer Institute. For additional information on Vion and its product development programs, visit the Company's Internet web site at http://www.vionpharm.com.

This news release contains forward-looking statements. Such statements are subject to certain risk factors which may cause Vion's plans to differ or results to vary from those expected, including Vion's potential inability to obtain regulatory approval for its products, delayed or unfavorable results of drug trials, the possibility that favorable results of earlier preclinical studies or clinical trials are not predictive of safety and efficacy results in later clinical trials, the need for additional research and testing, the potential inability to secure external sources of funding to continue operations, the inability to access capital and funding on favorable terms, continued operating losses and the inability to continue operations as a result, and a variety of other risks set forth from time to time in Vion's filings with the Securities and Exchange Commission, including but not limited to the risks attendant to the forward-looking statements included under Item 1A, "Risk Factors" in Vion's Form 10-K for the year ended December 31, 2006 and the Company's Form 10-Q for the quarter ended September 30, 2007. In particular, there can be no assurance as to the results of any of the Company's clinical trials, that any of these trials will continue to full accrual, or that any of these trials will not be discontinued, modified, delayed or ceased altogether. Except in special circumstances in which a duty to update arises under law when prior disclosure becomes materially misleading in light of subsequent events, Vion does not intend to update any of these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

COMPANY CONTACT: Vion Pharmaceuticals, Inc.

Alan Kessman, Chief Executive Officer

Howard B. Johnson, President & CFO

(203) 498-4210 phone


'/>"/>
SOURCE Vion Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Vion Pharmaceuticals Pays Interest on 7.75% Convertible Senior Notes
2. China Biopharmaceuticals Holdings Announces Second Quarter 2007 Financial Results
3. Vion Pharmaceuticals Completes Accrual of 85 Patients to its Pivotal Phase II Trial of Cloretazine(R) (VNP40101M) in Elderly AML
4. XTL Biopharmaceuticals Announces Financial Results for the Six Months Ended June 30, 2007
5. Cadence Pharmaceuticals Reports Second Quarter 2007 Financial Results
6. Nabi Biopharmaceuticals to Present at Upcoming Industry Conferences
7. Anadys Pharmaceuticals Appoints Steve Worland, Ph.D. as President and Chief Executive Officer
8. Poniard Pharmaceuticals Announces Participation in Upcoming Conferences
9. NovaQuest Advances Virtual Development Model With Strategic Investment in TOPIGEN Pharmaceuticals
10. Drug Royalty Corporation (DRC) Announces Acquisition Regarding PEG-INTRON(R) From Enzon Pharmaceuticals, Inc. (ENZN)
11. Sunesis Pharmaceuticals Announces Reorganization to Focus Resources and Build Value in Clinical-Stage Programs
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/27/2016)... (PRWEB) , ... April 27, 2016 , ... ... (d/b/a Biohaven) is pleased to announce the appointment of John Tilton as Chief Commercial ... Executive Director and one of the founding commercial leaders responsible for the commercialization ...
(Date:4/27/2016)... ... ... Global Stem Cells Group CEO Benito Novas announced that Duncan Ross, ... Kimera Labs in Miami. , In 2004, Ross received his Ph.D. in Immunology from ... and the suppression of graft vs. host disease (GVHD) under UM Professor Robert Levy ...
(Date:4/26/2016)... ... April 27, 2016 , ... Cameron Cushman has ... associate in the firm’s Intellectual Property practice group. , Clients turn to Cushman ... He has an electrical engineering and computer engineering background, and experience in the ...
(Date:4/26/2016)... ... 26, 2016 , ... Mr. Palmer created the RPO business for Ceridian and ... multi-year managed services contract in the U.S. intelligence community with The SI (a Lockheed ... John Younger, founder of Accolo. “We are growing and his experience guiding our ...
Breaking Biology Technology:
(Date:3/9/2016)... 2016 This BCC Research report provides an ... RNA Sequencing (RNA Seq) market for the years 2015, ... and reagents, data analysis, and services. Use ... RNA-Sequencing market such as RNA-Sequencing tools and reagents, RNA-Sequencing ... affecting each segment and forecast their market growth, future ...
(Date:3/3/2016)... 3, 2016  FlexTech, a SEMI Strategic Association Partner, ... Research & Development, Leadership in Education, and, in a ... 9 th year of the FLEXI Awards and ... individuals from past years . Judging was done ... set of criteria, by a panel of non-affiliated, independent, ...
(Date:3/2/2016)... 2, 2016 http://www.researchandmarkets.com/research/cmt3hk/global_biometrics ... "Global Biometrics as a Service Market ... --> http://www.researchandmarkets.com/research/cmt3hk/global_biometrics ) has announced ... as a Service Market 2016-2020" report ... Research and Markets ( http://www.researchandmarkets.com/research/cmt3hk/global_biometrics ) has ...
Breaking Biology News(10 mins):