AIM ImmunoTech Inc. - AIM STOCK NEWS

AIM ImmunoTech has issued a statement refuting claims made by an activist investor group regarding their attempt to take control of the company's Board of Directors at the upcoming 2024 Annual Meeting. The company specifically addresses the activist group's false claim about AIM's historical share price, stating that contrary to the group's assertion of $87.15 on February 25, 2016, the stock was actually trading at $0.16 as of March 15, 2016.

The Delaware Court of Chancery has previously found that the activist group made multiple misleading statements and omissions in their 2022 and 2023 nomination notices. The company urges shareholders to vote 'FOR' all four incumbent Board candidates.

AIM ImmunoTech has announced a cash conservation plan to maintain momentum in achieving clinical milestones. Independent directors will receive 100% of their compensation in company stock instead of cash. Previously disclosed amendments to executive employment agreements reduce cash salaries by $200,000 for CEO Thomas Equels and $50,000 for COO Peter Rodino, replacing these amounts with stock compensation. Notably, CEO Equels purchased 361,458 company shares between November 2023 and November 2024. The Board emphasizes its belief in Ampligen's potential to address unmet medical needs and create shareholder value through commercialization.

AIM ImmunoTech (NYSE American: AIM) has issued a presentation defending its current board members ahead of its 2024 Annual Meeting. The company highlights its clinical development progress, particularly in pancreatic cancer, and ongoing partnerships with AstraZeneca and Merck. The presentation warns against an Activist Group seeking board control, noting their demand for over $5 million in reimbursement for previous litigation costs. The company reveals that despite settlement attempts, the Activist Group demanded up to $8 million, representing over 50% of AIM's market cap. The board urges shareholders to vote for incumbent candidates and reject the Activist Group's proposals.

The Kellner Group, AIM Immunotech's largest stockholder, urges shareholders to vote using the GOLD proxy card to elect new board members, citing serious concerns about the incumbent board's conduct. The Delaware Supreme Court ruled that the board breached its fiduciary duties by adopting inequitable bylaws to maintain control. The group estimates the board spent $15-20 million in litigation to prevent meaningful director elections, contributing to a 99+% stock price decline. The Kellner Group nominees - Ted Kellner, Todd Deutsch, Robert Chioini, and Paul Sweeney - promise to bring needed change to address increasing losses, excessive spending, and poor governance.

AIM ImmunoTech announced the publication of data from Roswell Park Comprehensive Cancer Center's Phase 1 study evaluating Ampligen® as part of a chemokine-modulating regimen in early-stage triple-negative breast cancer (TNBC). The study results, published in The Journal for ImmunoTherapy of Cancer, showed that the Ampligen-containing regimen can modify the tumor microenvironment and release cytokines that attract killer T-cells into early-stage TNBC tumors. Study principal investigator Dr. Shipra Gandhi noted the promising results while emphasizing the need for validation in a larger study.

AIM ImmunoTech (NYSE American: AIM) reported its Q3 2024 financial results, highlighting progress in Ampligen® clinical development programs, particularly in pancreatic cancer treatment. The company reported cash and equivalents of $7.2 million, with reduced quarterly losses of $3.7 million ($0.06 per share) compared to $7.8 million ($0.16 per share) in Q3 2023. R&D expenses decreased to $1.4 million from $2.7 million, while G&A expenses reduced to $3.1 million from $5.4 million year-over-year. Key developments include positive preliminary data in pancreatic cancer studies, progress in Long-COVID research, and a new U.S. patent for Ampligen in endometriosis treatment.

The Kellner Group, AIM Immunotech's largest stockholder, is urging shareholders to vote for board changes using the gold proxy card. The Delaware Supreme Court ruled that the incumbent board breached fiduciary duties by adopting bylaws in 2023 to interfere with Kellner's nomination notice. The group estimates the board spent $15-20 million in the past two years fighting stockholder efforts for change. Under current leadership, AIM's stock price has declined over 99%, and its financial condition has deteriorated significantly. The Kellner Group nominees - Ted Kellner, Todd Deutsch, Robert L. Chioini, and Paul Sweeney - promise to bring new skills and experience to improve company performance.

AIM ImmunoTech (NYSE American: AIM) has scheduled a conference call and webcast for November 15, 2024, at 8:30 AM ET to discuss their third quarter 2024 operational and financial results. The event will be led by CEO Thomas K. Equels and Scientific Officer Christopher McAleer, PhD. Investors can join by dialing (877) 407-9219 (domestic) or (201) 689-8852 (international). The webcast will be available on the company's website and archived for 90 days.

AIM ImmunoTech has filed its definitive proxy statement for the 2024 Annual Meeting, warning shareholders about an activist group's attempt to take control of the Board. The company highlights its progress with Ampligen in clinical trials, particularly in pancreatic cancer treatment. The activist group, which includes individuals with ties to securities law felons, aims to replace the entire four-member Board and seeks reimbursement of over $5 million in expenses. AIM urges shareholders to vote 'FOR' all four incumbent Board candidates to protect the company's momentum and prevent potential disruption to ongoing clinical trials.