NexImmune appoints new president amid wind-down By Investing.com

Gaithersburg-based NexImmune, Inc. (OTC Pink:NEXI) announced significant changes to its leadership structure today, as part of its ongoing liquidation process. The pharmaceutical company, specializing in the development of novel immunotherapeutics, is proceeding with its previously approved Plan of Liquidation and Dissolution.

Effective today, the entire board of directors, including Sol J. Barer, Kristi Jones, and six others, have resigned. Additionally, key executive officers, including CEO Kristi Jones, Chief Scientific Officer Mathias Oelke, and Interim CFO Albert N. Marchio II, have stepped down. The company clarified that these departures are not due to disagreements over operations, policies, or practices.

Concurrently, NexImmune has appointed Craig Jalbert as President, Treasurer, and Corporate Secretary. Jalbert, 63, also assumes the roles of principal executive, financial, and accounting officer and becomes the sole member of the board. His extensive experience includes over 30 years at the accounting firm Verdolino & Lowey, P.C., focusing on distressed businesses and wind-down phases.

Jalbert’s compensation is set at $50,000 annually for three years. The company has not disclosed any further arrangements regarding his appointment, and there are no familial ties or material interests between Jalbert and other company officers.

As part of the dissolution process, NexImmune plans to file a certificate of dissolution with the Secretary of State of Delaware following the completion of its wind-down activities. The company has cautioned that trading in its securities is speculative and risky, warning investors about the potential disconnect between trading prices and the actual value realized.

This strategic shift follows the shareholders’ approval on August 9, 2024, and reflects the company’s commitment to an orderly and compliant cessation of operations. The information is based on a press release statement and underscores the company’s transparent approach to its dissolution.

In other recent news, NexImmune, a pharmaceutical company based in Gaithersburg, Maryland, has been involved in significant developments. The company’s stockholders voted in favor of its dissolution and subsequent liquidation during a special virtual meeting. A total of 1,513,353 votes were cast, with 55.18% of the voting power endorsing the dissolution with 1,145,369 votes.

In a twist of events, NexImmune adjourned the special stockholders’ meeting originally convened to vote on the company’s liquidation and dissolution. The adjournment signals the company’s ongoing efforts to explore alternative strategies to enhance shareholder value. The adjourned meeting is set to reconvene later this year in a virtual format, with stockholders of record still eligible to vote.

During this interim period, NexImmune will continue to engage with its stockholders and solicit votes concerning the proposals outlined in the Proxy Statement. The company has emphasized the importance of stockholder participation in the upcoming vote. These are the recent developments concerning NexImmune.

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