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:2/10/2016)... Feb.10, 2016 ASAE is introducing a hybrid ... Companies (AMC) the option of joining or renewing through ... determined by staff size, every employee in any size ... and reap all available member benefits.   ... organizational membership options will allow organizations of any size ...
(Date:2/10/2016)... Texas (PRWEB) , ... February 10, 2016 , ... ... centers across three states, announced today the promotion of two long-standing principal investigators ... Chief of Family Medicine, Clinical Research and Development. , Dr. Laurence Chu, a ...
(Date:2/10/2016)... (PRWEB) , ... February 10, 2016 , ... ... now available on Microsoft Azure. On Azure, Arvados provides capabilities for managing and ... clear demand for Microsoft Azure from major institutions collecting and analyzing genomic data,” ...
(Date:2/9/2016)... LITTLE FALLS, N.J. , Feb. 9, 2016 ... ), a biotechnology company specializing in the development ... the health of damaged tissues and organs, recently ... milestones for the first quarter of 2016. ... Regenicin began the new 2015 fiscal year in ...
Breaking Biology Technology:
(Date:1/28/2016)... JOSE, Calif., Jan. 28, 2016 Synaptics (NASDAQ: SYNA ... results for its second quarter ended December 31, 2015. ... second quarter of fiscal 2016 increased 2 percent compared to the ... second quarter of fiscal 2016 was $35.0 million, or $0.93 per ... Non-GAAP net income for the first quarter of fiscal 2016 grew ...
(Date:1/25/2016)... , Jan. 25, 2016  Glencoe Software, the world-leading ... and publication industries, will provide the data management solution ... (NPSC). ... Phenotypic analysis measures the ... organisms, allowing comparisons between states such as health and ...
(Date:1/21/2016)... 21, 2016 --> ... market research report "Emotion Detection and Recognition Market by Technology ... (Facial Expression, Voice Recognition and Others), Services, Application ... to 2020", published by MarketsandMarkets, the global Emotion ... USD 22.65 Billion by 2020, at a CAGR ...
Breaking Biology News(10 mins):