TorreyPines Therapeutics, Inc. Announces the Adjournment of its Special Meeting of Stockholders
Published: Jul 17, 2009
LA JOLLA, Calif., July 16 /PRNewswire/ -- TorreyPines Therapeutics, Inc. ("TPTX") announced today that its Special Meeting of Stockholders, which was originally convened on July 9, 2009, and re-convened on July 16, 2009 was adjourned to July 30, 2009 at 9:00 a.m., local time, at TPTX's offices located at 11085 North Torrey Pines Road, Suite 300, La Jolla, CA 92130. As discussed in the Proxy Statement distributed to stockholders on or about June 19, 2009, the stockholders of TPTX were scheduled to vote upon a proposal to approve the liquidation and dissolution of TPTX pursuant to a Plan of Liquidation and Dissolution. Fifty-eight percent (58%) of TPTX's stockholders failed to return their proxy cards or otherwise indicate their votes with respect to this proposal prior to the start of the Special Meeting. In order to pass, this proposal must be approved by holders of at least a majority of TPTX's outstanding voting shares, and as a result, abstentions and non-votes have the same effect as votes against the proposal.