Plus Therapeutics, Inc. (PSTV) Earnings Call Transcript & Summary

Good morning, ladies and gentlemen. I am Marc Hedrick, President and Chief Executive Officer of Plus Therapeutics. And it's my pleasure to welcome all of you. It is now 9 a.m. Central Time on the 16th day of June 2020. And in accordance with the notice of the meeting, I call to order the 2020 Annual Meeting of Stockholders. I will be acting as Chairman of this meeting. In this meeting, we will consider the proposal set forth in the proxy statement for the annual meeting dated June 16, 2020. After the votes are counted, the meeting will be adjourned. This meeting is held pursuant to the proxy materials mailed on or about May 13, 2020, to each stockholder of record on May 9, 2020 as well as the notice and proxy statement, which were made available at the time of the mailing. As of the close of business on the record date, there were 4,111,357 shares of common stock outstanding and entitled to vote. A list of the stockholders entitled to vote at this meeting has been available at the company headquarters for the past 10 days and is available at this meeting for examination by any stockholder requesting to do so. Information on how to access the proxy materials vote and access list of stockholders entitled to vote at this meeting may be found in the proxy materials and the notice of Internet availability of proxy materials. The proof of mailing of the notice of this meeting will be filed with the minutes of the meeting. [ Christine Amarin ] has been appointed to act as the inspector of election for this meeting. [ Christine Amarin ] is present and has taken an oath of office, which will be filed with the minutes of the meeting. [ Christine ] has advised me that a preliminary count indicates that a majority of the shares entitled to vote at this meeting are present via live webcast or represented by proxy, and therefore, I declare a quorum is present for the purposes of conducting the business of this meeting. Stockholders who have previously voted by proxy need not cast ballots in the voting today unless they wish to change their votes. If you wish to vote via the Internet at this meeting, you will have the opportunity to do so momentarily. I now declare that the polls for voting are open. To vote via the Internet at this meeting, you will need the control number included in your notice or proxy card if you have received a printed copy of the proxy materials. Proposal 1 is the election of 6 directors to serve as directors until the 2021 Annual Meeting of Stockholders or until their successors have been duly elected and qualified. The present Board of Directors has nominated and recommends the following nominees: Howard Clowes, An van Es-Johansson, Richard Hawkins, Marc Hedrick, Robert Lenk and Greg Petersen. The company has an advanced notice provision in its bylaws, and given that we have not received any other nominations, I hereby declare the nominations for election of directors of the company to be closed. Directors will be elected by a plurality of the affirmative votes cast by those shares present or represented by proxy and entitled to vote at this meeting. Are there any questions about the election of directors about how to cast your vote? There being no questions, if you are voting via the Internet at this meeting, please submit your vote now. [Voting]

Proposal 2 is to ratify the selection of the Audit Committee by the Board of Directors of BDO USA, independent registered public accounting firm, to audit the financial statements of the company for the 2020 fiscal year. Approval of the proposal requires the affirmative vote of a majority of the common stock present in person or represented by proxy at the annual meeting. Before we vote on this proposal, are there any questions? There being no questions, if you are voting via the Internet at this meeting, please submit your vote now. [Voting]

Proposal 3 is the approval of the issuance of shares of common stock to Lincoln Park Capital. Pursuant to NASDAQ listing rules 5635(a), (b) and (d), approval of the proposal requires the affirmative vote of a majority of the common stock present in person or represented by proxy at the annual meeting Before we vote on this proposal, are there any questions or discussion? There being no questions, if you are voting via the Internet at this meeting, please submit your vote now. [Voting]

Proposal 4 is the approval of the company's amended and restated 2020 Equity Incentive Plan. Approval of the proposal requires the affirmative vote of a majority of the common stock present in person or represented by proxy at the annual meeting. Before we take a vote on this proposal, are there any questions? There being no questions, if you are voting via the Internet at this meeting, please submit your vote now. [Voting]

Proposal 5 is to provide a nonbinding advisory vote on the compensation of our named executive officers. Approval of the proposal requires the affirmative vote of a majority of the common stock present in person or represented by proxy at the annual meeting. Before we take a vote on this proposal, are there any questions? There being no questions, if you're voting via the Internet at this meeting, please submit your vote now. [Voting]

That concludes the voting on the proposals. Again, if you have already voted by proxy, you need not vote today unless you would like to change your vote. At this time, I hereby declare the polls closed. The proxies and virtual votes will be now accounted. The preliminary results have been received and the inspector of elections has reported that based on the last tabulation report, the stockholders have approved the election of all the nominees to the Board of Directors; the ratification of the selection of BDO as the company's independent registered public accounting firm for the 2020 fiscal year; the approval of the issuance of shares of common stock to Lincoln Park pursuant to NASDAQ listing rules 5635(a), (b) and (d); the approval of the amended and restated 2020 Equity Incentive Plan; and finally, the approval of the provision of a nonbinding advisory report on the compensation of our named executive officers. Following confirmation of the preliminary voting results, the voting tabulation report of the inspector of election will be filed with the records of this meeting. This concludes today's annual meeting, and I now declare the meeting to be adjourned. I would like again to express my sincere appreciation to the stockholders who attended the meeting as well as those who submitted their proxies but were not able to be present in person. Thank you very much, and have a great day.

This concludes today's conference. You may now disconnect.