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 existing licensing agreements that have generated substantial 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 is committed to evaluating all proposals, including Lynx1's, but will prioritize those that align with the Company's long-term value [5][10]. Risks of Lynx1's Nominees - Electing Lynx1's nominees could compromise the Board's ability to objectively assess all proposals, potentially leading to the neglect of superior strategic opportunities [6][7]. - The Company urges stockholders to support its existing Board nominees to ensure the protection and maximization of value for all stockholders [7][11]. Company Overview - Neuphoria Therapeutics Inc. is a clinical-stage biotechnology company focused on developing therapies for neuropsychiatric disorders, with its lead candidate BNC210 aimed at treating PTSD [13]. - Following the AFFIRM-1 Phase 3 trial results, which missed primary and secondary endpoints, the Company has halted development of BNC210 in social anxiety disorder and is actively conducting a strategic review [13].