Calithera Biosciences Announces Update on Complete Liquidation and Dissolution

Rhea-AI Summary

Calithera Biosciences cancels special meeting of stockholders

Positive

• Calithera Biosciences has cancelled its special meeting of stockholders, which was intended to approve the Company’s Plan of Complete Liquidation and Dissolution. The cancellation indicates that the Company was unable to achieve a quorum of stockholders for the meeting.

Negative

• None.

Cancels Special Meeting of Stockholders

SOUTH SAN FRANCISCO, Calif., June 29, 2023 (GLOBE NEWSWIRE) -- Calithera Biosciences, Inc. (OTC: “CALA”). Calithera Biosciences, Inc. (the “Company”) announced that it was unable to achieve a quorum of stockholders at its special meeting of stockholders scheduled to be held on June 29, 2023 (the “Special Meeting”), for the purpose of approving the Company’s Plan of Complete Liquidation and Dissolution. In January 2023, the Company announced its intention to commence an orderly wind down of the Company’s business and operations. After consulting with its proxy solicitation advisors, the Company concluded that further attempts to solicit proxies for the Special Meeting would in all likelihood not allow it to achieve a quorum, and as a result has cancelled the Special Meeting.

CONTACT:
Stephanie Wong
ir@calithera.com
650.870.1063

FAQ

Why did Calithera Biosciences cancel its special meeting of stockholders?

Calithera Biosciences cancelled the meeting because it was unable to achieve a quorum of stockholders.

What was the purpose of the special meeting?

The purpose of the special meeting was to approve the Company’s Plan of Complete Liquidation and Dissolution.

What does the cancellation indicate?

The cancellation indicates that the Company was unable to achieve a quorum of stockholders for the meeting.