Traws Pharma, Inc. (TRAW) Earnings Call Transcript & Summary

Good morning, and welcome to the reconvened Special Meeting of Stockholders of Onconova Therapeutics, Inc. I would now like to turn the meeting over to Steven Fruchtman, President and CEO of Onconova. Dr. Fruchtman, please go ahead.

Thank you. And good morning, ladies and gentlemen. Will the meeting please come to order? As we reported on March 4, 2021, before the meeting was adjourned, there is a quorum present for the transaction of business. At the meeting on March 4, 2021, we did not submit for a vote of our stockholders, the proposals to adopt amendments to our tenth amended and restated certificate of incorporation, as amended, to effect a reverse stock split and to decrease the authorized number of shares of our common stock, each as described in further detail in our proxy statement. However, we did submit the proposal to authorize 1 or more adjournments of the meeting, if necessary, to solicit additional proxies if there are insufficient votes in favor of the reverse stock split and/or authorized shares decrease at the special meeting or any adjournment thereof. As reported on March 4, 2021, and as subsequently disclosed in a Form 8-K filed by the company on such date, a adjournment proposal was approved by our stockholders. We believe it is appropriate to, again, adjourn this special meeting and further extend the voting deadline on these proposals because as of this morning, more than 70% of the votes cast are in favor of each of the proposals, but there are currently less than a majority of outstanding shares voted to approve these proposals. Accordingly, a vote will not be taken on the proposals to adopt amendments to our test, amended and restated certification of incorporation, as amended, to affect a reverse stock split or to decrease the authorized number of shares of our common stock at this time. And we will proceed to the next order of business. As authorized by the adjournment proposal that was approved by our stockholders, as Chairman of the meeting, I now declare that the special meeting is adjourned. I then add that the meeting will be reconvened at 4:30 p.m. Eastern Standard Time on April 30, 2021 at www.virtualshareholdingmeeting.com/ONTX2021SM. All stockholders of record as of January 12, 2021, which is the record date for this special meeting, will be entitled to vote at the reconvened meeting. We urge all stockholders a record to please vote your shares today. Please vote now to help the company avoid additional meeting related expenses. You can vote by the methods listed on your proxy card. To vote now or obtain assistance voting, please e-mail our proxy solicitor, Alliance Advisers at [email protected], as spelled A-L-L-I-A-N-C-E-A-D-V-I-S-O-R-S dot com or call toll-free at (855) 200-8272, Monday to Friday, 9:00 a.m. to 10 p.m. Eastern Standard Time and Saturdays and Sundays from 10:00 a.m. to 6:00 p.m. Eastern Time, except for this Easter, Sunday. I repeat, the number -- toll-free number to call is (855) 200-8272, or alternatively, contact our proxy solicitor MacKenzie Partners via e-mail, at proxy, spelled P-R-O-X-Y, @mackenziepartners.com, spelled M-A-C-K-E-N-Z-I-E-P-A-R-T-N-E-R-S dot com. As a reminder, Onconova will make a $50,000 donation to the American Cancer Society to help that society and Onconova continue novel research in cancer therapeutics, if we achieve 70% or more voting participation. The meeting is now adjourned. Thank you for attending today's meeting. Have a great day. Thank you, again, for your support and your vote.

This now concludes the meeting. Thank you for joining, and have a pleasant day.