Neuphoria Responds to Lynx1’s Revised Indication of Interest at a Reduced Price and Premium

Core Viewpoint - Neuphoria Therapeutics Inc. is conducting a strategic alternatives review process to maximize value for stockholders, while responding to a revised acquisition proposal from Lynx1 Master Fund LP, which the Company believes undervalues its assets [1][4][5]. Strategic Review Process - The Board, with independent advisors, is engaged in a comprehensive review of strategic alternatives to enhance stockholder value, pausing R&D expenditures for BNC210 in PTSD during this evaluation [2][3]. - The strategic review process has attracted significant interest from various potential counterparties, with several parties already engaged under confidentiality agreements [2][3]. Lynx1's Proposal - Lynx1's revised bid of $4.75 per share is considered inadequate as it does not provide a meaningful premium and is close to the estimated cash value of the Company [4][5]. - The Board asserts that Lynx1's proposal fails to account for the value of Neuphoria's licensing agreements, which have generated tens of millions in revenue and have potential for future payments [4][8]. Board's Position - The Company emphasizes that it will not pursue any transaction that undervalues its assets or disrupts the ongoing strategic review process, despite receiving multiple competing offers [5][10]. - The Board urges stockholders to support its nominees to ensure an objective evaluation of all proposals and to protect stockholder value [7][11]. Due Diligence Concerns - Lynx1 is criticized for not conducting sufficient due diligence, leading to a proposal that significantly undervalues the Company's potential based on its existing contractual arrangements [8][9]. - The Company maintains that it is treating all interested parties fairly and equally in the strategic review process, countering Lynx1's claims of seeking special treatment [9][10].