UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
March 2, 2022
AIM IMMUNOTECH INC.
(Exact name of registrant as specified in its charter)
Delaware | 001-27072 | 52-0845822 | ||
(state or other jurisdiction | (Commission | (I.R.S. Employer | ||
of incorporation) | File Number) | Identification No.) |
2117 SW Highway 484, Ocala FL | 34473 | |
(Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (352) 448-7797
AIM ImmunoTech Inc.
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol | Name of each exchange on which registered | ||
Common Stock, par value $0.001 per share | AIM | NYSE American |
Item 1.01 Entry into a Material Definitive Agreement.
In determining whether to proceed with a Human Challenge Trial (“HCT”) with hVIVO Services Ltd at their quarantine facility in the U.K. to test Ampligen as a potential intranasal antiviral therapy using a human rhinovirus HRV (common cold virus) and influenza, the Medicines and Healthcare Regulatory Agency (“MHRA”), the agency that reviews the study protocol, has requested data that will require us to first conduct an animal experiment and we believe that such experiment will take approximately six months to complete. Accordingly, we have determined not to proceed with the HCT. On March 2, 2022, we officially withdrew our application from the MHRA and we terminated our agreement with hVIVO.
On March 3, 2022, we entered into an Agreement of Sale and Purchase with Acellories, Inc. as purchaser pursuant to which we will sell our property located at 783 Jersey Ave., New Brunswick, NJ. Pursuant to the agreement, the purchaser will purchase the property for $3.9 million. Among other things, the purchaser has a 45 day right of due diligence and has the right to terminate the agreement within that period.
On March 7, 2022, the Company issued a press release regarding the sale of the facility. A copy of the press release is furnished herewith as Exhibit 99.1.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 3, 2022, our Board of Directors, at the recommendation of the Compensation Committee, awarded options to purchase 50,000 shares of Company Common Stock to each of our independent directors, Mr. Appelrouth and Dr. Mitchell, and to certain other members of management, including Peter Rodino, our COO, and Ellen Lintal, our CFO. The options vest one year after issuance and have an exercise price of $0.70, the closing price of our Common Stock on the day prior to issuance. We note that our CEO, Thomas K. Equels, at his recommendation, did not request or receive any such options under the March 3 decision.
Cautionary Statement
This Current Report on Form 8-K, including Exhibit 99.1, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). Words such as “may,” “will,” “expect,” “plan,” “anticipate” and similar expressions (as well as other words or expressions referencing future events or circumstances) are intended to identify forward-looking statements. Many of these forward-looking statements involve a number of risks and uncertainties. Among other things, for those statements, we claim the protection of safe harbor for forward-looking statements contained in the PSLRA. The Company does not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. | Description | |
99.1 | Press Release Dated March 7, 2022. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AIM IMMUNOTECH INC. | ||
March 7, 2022 | By: | /s/ Thomas K. Equels |
Thomas K. Equels, CEO |
Exhibit 99.1
AIM ImmunoTech Announces Strategic Sale of New Brunswick, New Jersey
Facility to Allocate Additional Resources to Advance Pipeline
OCALA, FL (March 7, 2022) – AIM ImmunoTech Inc. (NYSE: American AIM) (“AIM” or the “Company”), an immuno-pharma company focused on the research and development of therapeutics to treat multiple types of cancers, immune disorders, and viral diseases, including COVID-19, the disease caused by the SARS-CoV-2 virus, today announced the sale of its facility located in New Brunswick, New Jersey for a purchase price of $3.9 million.
Thomas Equels, Chief Executive Officer of AIM commented, “Our priorities are focused on positioning the Company to advance our clinical programs — especially in oncology and long-COVID — as quickly and efficiently as possible, executing our operational, clinical and regulatory milestones. This strategic transaction should reduce our expenses and save over $1.0 million a year in cash flow. The cash and cash-flow savings will be used to advance our oncology and long-COVID clinical programs.”
This transaction is in line with AIM’s strategy to advance its clinical and non-clinical activities with the shortest and most efficient path to potential U.S. Food and Drug Administration and European Medicines Agency drug approvals, providing opportunities for expedited success. The Company will retain access to space in the New Brunswick facility for activities related to Alferon-N and also intends to lease additional space in a N.J.-based facility suitable for product development and testing.
About AIM ImmunoTech Inc.
AIM ImmunoTech Inc. is an immuno-pharma company focused on the research and development of therapeutics to treat multiple types of cancers, immune disorders, and viral diseases, including COVID-19, the disease caused by the SARS-CoV-2 virus.
For more information, please visit www.aimimmuno.com.
Cautionary Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). Words such as “may,” “will,” “expect,” “plan,” “anticipate” and similar expressions (as well as other words or expressions referencing future events or circumstances) are intended to identify forward-looking statements. Many of these forward-looking statements involve a number of risks and uncertainties. Among other things, for those statements, the Company claims the protection of safe harbor for forward-looking statements contained in the PSLRA. The Company does not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof.
Investor Relations Contact
JTC Team, LLC
Jenene Thomas
833-475-8247
AIM@jtcir.com