According to Flex Pharma, additional shares must be voted in order to complete the planned merger with Salarius Pharmaceuticals, an epigenetic oncology company.
Flex Pharma has also adjourned the special meeting until July 12 in order to provide shareholders with more time to complete proxies and vote their shares.
“We are very pleased that the vast majority of shareholders who voted support the merger with Salarius, consistent with the recommendations of both leading, independent proxy advisory services ISS and Glass-Lewis,” said Flex Pharma CEO William McVicar.
Flex Pharma traded down 26.6% to 47 cents per share.
Aclaris Announces Positive Results From Alopecia Treatment Trial
Pfizer To Buy Array Pharma For /Share
See more from Benzinga
- Sotheby's To Be Acquired By BidFair, Shares Rise 60%
- Aclaris Announces Positive Results From Alopecia Treatment Trial
- Aecom To Spin Off Management Services Unit
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.