Neuphoria Therapeutics Inc. Sends Letter to Stockholders

Core Viewpoint - Neuphoria Therapeutics Inc. is urging stockholders to vote for its two nominees for the Board of Directors, emphasizing their qualifications and the importance of stability during the ongoing strategic review process [1][2][4]. Group 1: Board Nominees and Voting - Neuphoria is advocating for stockholders to vote "FOR" its nominees, Peter Miles Davies and David Wilson, who possess significant expertise in investment and capital allocation relevant to the company's strategic review [2][8]. - A dissident stockholder, Lynx1 Master Fund LP, has nominated its own candidates, and Neuphoria is urging stockholders to vote "WITHHOLD" on these nominees [3][12]. - The company emphasizes that introducing inexperienced directors could disrupt the strategic review process and negatively impact value creation [11][13]. Group 2: Strategic Review Process - Neuphoria's Board is committed to maximizing value for all stockholders and is conducting a comprehensive review of strategic alternatives with the help of independent financial and legal advisors [4][6]. - The strategic review process is ongoing, with H.C. Wainwright & Co. serving as the financial advisor, and the Board is evaluating various proposals from interested parties [6][7]. - The company believes that maintaining continuity on the Board is critical to successfully completing the strategic review and maximizing value [8][21]. Group 3: Financial Position and Pipeline - Neuphoria has raised capital through its at-the-market program to ensure a strong financial position ahead of anticipated clinical data readouts, which is crucial for negotiating favorable terms with investors [15][16]. - Following a negative data readout from the AFFIRM-1 Phase 3 trial, the company is focused on exploring strategic alternatives and pursuing other pipeline programs [16][24]. - The company’s financial preparedness enhances its credibility and ability to attract high-quality strategic opportunities, thereby maximizing long-term stockholder value [18][20].