Aim Immunotech Stock Price, News & Analysis

AIM ImmunoTech (NYSE: AIM) received a notice from NYSE American on December 11, 2024, indicating noncompliance with continued listing standards. The company fails to meet requirements for stockholders' equity of $4 million (Section 1003(a)(ii)) and $6 million (Section 1003(a)(iii)) after reporting losses in its five most recent fiscal years.

The stock will continue trading under 'AIM' with an added '.BC' designation indicating 'below compliance'. The company must submit a compliance plan by January 10, 2025, demonstrating how it will meet standards by June 11, 2026. If the plan is not submitted, accepted, or if progress isn't maintained, AIM could face delisting procedures.

AIM ImmunoTech (NYSE American: AIM) announced the election results from its 2024 Annual Meeting of Stockholders. Three incumbent directors - Nancy K. Bryan, Thomas K. Equels, and Dr. William M. Mitchell - were re-elected to the Board of Directors, along with new member Ted D. Kellner. The meeting achieved the required 40% quorum of outstanding shares entitled to vote.

Dr. Mitchell, Board Chairman, expressed gratitude to shareholders for their support and trust in the company's clinical development strategy, particularly regarding their lead drug candidate, Ampligen. The company aims to focus on supporting high-value cancer clinical development programs in areas with critical unmet needs.

AIM ImmunoTech (NYSE American: AIM) urges shareholders to vote 'FOR' all four incumbent Board members at the upcoming 2024 Annual Meeting scheduled for December 17, 2024. The company emphasizes that the current Board has the expertise to continue developing Ampligen and create long-term shareholder value. AIM warns against an Activist Group's attempt to gain Board control, which could potentially lead to over $5 million in self-reimbursements and disrupt ongoing clinical development progress. The company highlights its partnerships with major biopharmaceutical companies and research organizations, demonstrating Ampligen's potential. Both major proxy advisory firms, ISS and Glass Lewis, have noted the Activist Group's lack of a clear plan for AIM.

AIM ImmunoTech urges shareholders to vote 'FOR' all four incumbent board members at the upcoming 2024 Annual Meeting. The company highlights that leading proxy advisors ISS and Glass Lewis recommended against giving control to the dissident nominees, citing their lack of a detailed plan. The Activist Group seeks to reimburse themselves over $5 million in litigation expenses from failed takeover attempts without shareholder vote.

AIM defends its clinical development strategy of partnering with institutions like AstraZeneca and Merck, emphasizing that this approach preserves cash and reduces trial risks while maintaining Ampligen rights. The company criticizes the activist nominees' backgrounds, particularly highlighting concerns about Robert Chioini's past management issues and Todd Deutsch's connections.

AIM ImmunoTech (NYSE American: AIM) has secured Patent No. 2,032,813 from the Netherlands Patent Office for its drug Ampligen (rintatolimod) to treat post-COVID fatigue. The patent was granted to CEO Thomas K. Equels and Medical Officer David R. Strayer, who assigned it to the company.

Ampligen, an RNA product candidate designed to modulate the immune system, has shown broad-spectrum antiviral effects through stimulating innate immune response. The company recently reported positive topline results from its Phase 2 study (AMP-518) evaluating Ampligen's efficacy and safety in treating post-COVID fatigue. The drug was generally well-tolerated and showed preliminary evidence of reducing fatigue in subjects with post-COVID conditions.

Based on these results, AIM plans to conduct a follow-up clinical trial focusing on moderate-to-severe post-COVID fatigue patients.

AIM ImmunoTech (NYSE American: AIM) has released a Virtual Investor KOL Connect segment featuring Dr. Charles Lapp, the company's Consulting Medical Officer and founder of the Hunter-Hopkins Center. The segment focuses on the results from AIM's Phase 2 study of Ampligen® for Post-COVID fatigue condition (AMP-518). Dr. Lapp, a Key Opinion Leader with over 25 years of experience treating Chronic Fatigue Syndrome and Fibromyalgia, discusses the study's findings regarding efficacy and safety.

ISS has recommended AIM ImmunoTech shareholders vote FOR Company nominees Nancy K. Bryan and Dr. William M. Mitchell at the upcoming 2024 Annual Meeting.

ISS found the Activist Group's plan , with only one nominee having relevant life sciences expertise, and highlighted concerns about nominee Robert L. Chioini's track record and connections to securities law felons, recommending against his and nominee Todd A. Deutsch's election.

AIM highlighted a $15 million+ investment partnership between activist nominees Ted Kellner and Paul Sweeney, questioning their independence. The Company urged shareholders to vote for all four incumbent candidates on the WHITE proxy card.

Dr. William M. Mitchell emphasized the Company's ability to secure funding for clinical trials and the expertise of the Board members, particularly Tom Equels and Stewart Appelrouth. AIM remains focused on high-value indications like pancreatic cancer to create long-term value.

AIM ImmunoTech has issued a presentation urging shareholders to vote against four director candidates nominated by an activist investor group at the upcoming 2024 Annual Meeting. The company highlights serious concerns about the nominees: Robert Chioini was previously fired for mismanagement, Todd Deutsch has connections to individuals involved in securities fraud, Ted Kellner was found by court to have provided false information to shareholders, and Paul Sweeney lacks independence due to extensive business ties with Kellner.

The activist group is seeking over $5 million in reimbursement for failed litigation expenses, plus additional proxy contest costs, without shareholder approval.

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.