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NexImmune | 8-K: Current report

SEC announcement ·  Feb 1 09:21
Summary by Moomoo AI
NexImmune, Inc., a biotechnological company, filed a Form 8-K with the SEC on February 1, 2024, disclosing its current financial status and future prospects. The company reported an aggregate market value of its common stock held by non-affiliates at approximately $12.5 million, based on the closing price as of January 9, 2024. NexImmune has not sold any securities in the past 12 months under Form S-3 but is now eligible to offer and sell shares worth up to $4.16 million. The company plans to use potential proceeds for additional financing, business development, and general corporate purposes. NexImmune anticipates that its existing funds, along with the potential new proceeds, would sustain operations until May 2024. However, the company acknowledges the risks and uncertainties in its financial projections and...Show More
NexImmune, Inc., a biotechnological company, filed a Form 8-K with the SEC on February 1, 2024, disclosing its current financial status and future prospects. The company reported an aggregate market value of its common stock held by non-affiliates at approximately $12.5 million, based on the closing price as of January 9, 2024. NexImmune has not sold any securities in the past 12 months under Form S-3 but is now eligible to offer and sell shares worth up to $4.16 million. The company plans to use potential proceeds for additional financing, business development, and general corporate purposes. NexImmune anticipates that its existing funds, along with the potential new proceeds, would sustain operations until May 2024. However, the company acknowledges the risks and uncertainties in its financial projections and the possibility of depleting capital resources sooner than expected. NexImmune also faces the risk of dilution to current stockholders if additional financing is secured. The company previously received a notice from Nasdaq indicating that it may no longer meet listing requirements and is considered a 'public shell.' A hearing has been requested, which has stayed any delisting action. The company's special meeting to consider liquidation and dissolution has been adjourned to February 7, 2024, and may be postponed or canceled if sufficient funding is obtained. NexImmune warns of substantial doubt about its ability to continue as a going concern and the potential need for bankruptcy protection if additional capital cannot be raised.

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