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

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

Thank you, and good afternoon, 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. The next order of business is a description of the proposals to be voted on at today's meeting. Proposal #1, Reverse Stock Split. This proposal is to consider and vote upon an amendment to our Tenth Amended and Restated Certificate of Incorporation, as amended, to combine outstanding shares of our common stock into a lesser number of outstanding shares or a reverse stock split by a ratio of not less than 1-for-5 and not more than 1-for-15, with the exact ratio to be set within this range by our Board of Directors in its sole discretion. And this is the Reverse Stock Split Proposal. Proposal #2, amendment to our Tenth Amended and Restated Certificate of Incorporation. This proposal is to approve an amendment to the company's Tenth Amended and Restated Certificate of Incorporation, as amended, to decrease concurrent with and condition upon the effectiveness of the reverse stock split, the number of authorized shares of capital stock from 255 million to 130 million shares in order to decrease the number of authorized shares of common stock from 250 million to 125 million shares. This is the Authorized Shares Decreased Proposal. Since no other matters have been properly brought before the meeting, the polls are now open. Should any shareholder desire to vote now, please click on the Voting button at the bottom of the screen and follow the instructions provided. If you have already voted your shares and do not wish to change your vote, you need not take any further action. I will pause for the vote. [Voting] The polls for each matter to be voted on at this meeting are now closed. The Inspector of Election will count the votes.

Thank you, Mr. Chairman. Based on the preliminary count of these factor for Proposal 1 and Proposal 2, each has received the majority of the votes outstanding in favor that are present by proxy or in person at this meeting. I will look to prepare the final report as soon as possible and deliver to the secretary of the meeting, to be filed with the minutes of the special meeting. That is all, Mr. Chairman.

Thank you. While the Inspector of Election will now report the preliminary results of the voting, the final results will be filed with the SEC on a Form 8-K within 4 days of the meeting. The meeting is now adjourned. Thank you for attending today's meeting.

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