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Last Post: 1/16/2017 2:10:34 PM - Followers: 391 - Board type: Free - Posts Today: 0


 DPRX NEWS >>>> Dipexium and PLx Pharma Announce Merger Agreement 

Click Here for more DIPEXIUM PHARMACEUTICALS, LLC Charts. 
NEW YORK and HOUSTON, Dec. 22, 2016 /PRNewswire/ -- Dipexium Pharmaceuticals, Inc. (NASDAQ: DPRX) and PLx Pharma Inc. (PLx Pharma), a privately held late-stage specialty pharmaceutical company, announced today that they have entered into a definitive agreement under which PLx Pharma will merge with a wholly-owned subsidiary of Dipexium in an all-stock transaction. Following closing, Dipexium will be renamed PLx Pharma Inc., and will operate under the leadership of the PLx management team with Michael Valentino serving as Executive Chairman of the company's Board of Directors and Natasha Giordano serving as President and Chief Executive Officer. 

The combined company will initially be focused on completion of manufacturing scale-up and label finalization for the previously conditionally approved AspertecTM 325 mg aspirin dosage form thereby satisfying the open conditional items, and filing of a supplemental new drug application (sNDA) for Aspertec 81 mg maintenance dose form. Aspertec is being developed to provide high-risk cardiovascular and neurology patients with more reliable and predictable antiplatelet efficacy as compared to enteric coated aspirin while also reducing the adverse gastric events common in an acute setting. 

Natasha Giordano, President and Chief Executive Officer of PLx Pharma, said, "This merger will provide PLx Pharma with the initial resources necessary to advance our contemplated development efforts for Aspertec and begin the critical pre-commercialization activities necessary to prepare the market for this important cardiovascular product." 

PLx stockholders will receive newly issued shares of common stock of Dipexium in connection with the merger contemplated by the merger agreement. Dipexium will issue approximately 36 million new shares of its common stock to PLx stockholders under the exchange ratio formula defined in the merger agreement. Upon the closing of the merger, existing PLx stockholders are expected to own 76.75% of Dipexium common shares outstanding and existing Dipexium stockholders are expected to own 23.25% of Dipexium common shares outstanding. The exchange ratio is defined in the merger agreement and is subject to potential adjustment. 

"This transaction with PLx Pharma reflects the continued commitment of Dipexium's Board of Directors and management team to deliver value to Dipexium stockholders," said David Luci, President and Chief Executive Officer of Dipexium. "The merger brings with it the PLx Pharma management team, comprised of highly accomplished and seasoned executives who have launched and successfully commercialized many market leading over-the-counter products, among them Mike Valentino as Executive Chairman of PLx Pharma, who previously launched multiple major Rx-to-OTC switches including Benadryl, Motrin Jr., Rogaine Extra Strength, Lamisil, Nasalcrom, Voltaren, and most recently, as CEO of Adams Respiratory Therapeutics, Inc., Mucinex®." 

The boards of directors of both Dipexium and PLx Pharma have unanimously approved the proposed transaction, which is subject to customary closing conditions, including approval by the stockholders of each of Dipexium and PLx Pharma. The merger is expected to close during the second quarter of 2017, subject to customary closing conditions. 

Raymond James & Associates is acting as financial advisor to Dipexium and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. is serving as its legal counsel. Janney Montgomery Scott LLC is acting as financial advisor to PLx and Jackson Walker LLP is acting as its legal counsel. 

About Dipexium 

Dipexium Pharmaceuticals, Inc. (NASDAQ: DPRX) is a late-stage pharmaceutical company focused on the development and commercialization of Locilex (pexiganan cream 0.8%), a novel, broad-spectrum, topical antibiotic peptide, which recently announced that Locilex failed to meet the primary and secondary endpoints in its OneStep-1 and OneStep-2 Phase 3 clinical trials. For more information, please visit 

About PLx 

PLx Pharma Inc. is a late-stage specialty pharmaceutical company initially focused on developing its clinically validated and patent-protected PLxGuard™ delivery system to provide safer and more effective aspirin products. The PLxGuard™ delivery system works by targeting delivery of active pharmaceutical ingredients (API) to various portions of the GI tract. PLx believes this has the potential to improve the absorption of many drugs currently on the market or in development, and to reduce acute gastrointestinal (GI) side effects—including erosions, ulcers and bleeding—associated with aspirin and ibuprofen, and potentially other drugs. To learn more about PLx and its pipeline, please visit 

Additional Information Will Be Filed with the SEC 

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities of Dipexium or PLx or the solicitation of any vote or approval. In connection with the proposed transaction, Dipexium will file with the SEC a Registration Statement on Form S-4 containing a joint proxy statement/prospectus. The joint proxy statement/prospectus will contain important information about Dipexium, PLx, the transaction and related matters. Dipexium and PLx will mail or otherwise deliver the joint proxy statement/prospectus to their respective stockholders when it becomes available. Investors and security holders of Dipexium and PLx are urged to read carefully the joint proxy statement/prospectus relating to the merger (including any amendments or supplements thereto) in its entirety when it is available, because it will contain important information about the proposed transaction. 

Investors and security holders of Dipexium will be able to obtain free copies of the joint proxy statement/prospectus for the proposed merger (when it is available) and other documents filed with the SEC by Dipexium through the website maintained by the SEC at In addition, investors and security holders of Dipexium will be able to obtain free copies of the joint proxy statement/prospectus for the proposed merger (when it is available) by contacting Dipexium Attn: David Luci, [email protected] Investors and security holders of PLx will be able to obtain free copies of the joint proxy statement/prospectus for the merger by contacting PLx, Attn: Natasha Giordano, [email protected] 

Dipexium and PLx, and their respective directors and certain of their executive officers, may be deemed to be participants in the solicitation of proxies in respect of the transactions contemplated by the agreement between Dipexium and PLx. Information regarding Dipexium's directors and executive officers is contained in Dipexium's Annual Report on Form 10-K for the fiscal year ended December 31, 2015, which was filed with the SEC on March 22, 2016, and will also be available in the joint proxy statement/prospectus that will be filed by Dipexium with the SEC in connection with the proposed transaction. Information regarding PLx's directors and officers and a more complete description of the interests of PLx's directors and officers in the proposed transaction will be available in the joint proxy statement/prospectus that will be filed by Dipexium with the SEC in connection with the proposed transaction. 

#17070  Sticky Note DPRX $1.40 >> EXTREMLY UNDERVALUED/OVERSOLD >> ALONE THE l2 hunter 12/11/16 08:28:26 AM
#15968  Sticky Note ILC.V 0.185 MY NEXT LITHIUM STOCK WAY MULTI l2 hunter 10/09/16 12:32:28 PM
#15967  Sticky Note HMLA 001 36M O/S ** 100M A/S ULTRA l2 hunter 10/09/16 12:28:00 PM
#17940   (((((((((( $BAA ))))))))) myopinion 01/16/17 02:10:34 PM
#17939   $PMCB Technical Updates on Shares of Pharmacyte Biotech $Pistol Pete$ 01/16/17 02:36:21 AM
#17938   only one word rjgd benyam 01/15/17 05:40:07 AM
#17937   $ARYC @Arrayit Facebook: Arrayit Corporation ARYC is getting Jimmy Jackson jr 01/14/17 06:11:48 PM
#17936   $PMCB Investor Sphere: Keeping an Eye on Levels $Pistol Pete$ 01/14/17 04:04:53 PM
#17935   real find under penny check and read carefully... benyam 01/14/17 03:32:10 PM
#17934   $Isbg Big news GreenWarning 01/13/17 03:35:19 PM
#17933   $TWOH low floater here, due for a breakout! Robertscott 01/13/17 03:03:25 PM
#17932   Please DD Silicon Valley biotech, Arrayit Corporation Jimmy Jackson jr 01/13/17 01:26:15 PM
#17931   $TWOH had leveraged our relationship with their product easymoneylucy 01/13/17 11:40:14 AM
#17930   $FDBL myopinion 01/13/17 09:44:43 AM
#17929   $ASTI Huge buying about myopinion 01/13/17 09:41:40 AM
#17928   $ICLD NEW YORK, Jan. 12, 2017 (GLOBE NEWSWIRE) Robertscott 01/13/17 09:26:56 AM
#17927   $PMCB PharmaCyte Biotech’s Cannabinoid Therapy PMCB[/ $Pistol Pete$ 01/13/17 01:29:23 AM
#17926   $FHBC ~ Fernhill Beverage, Inc. is a for-profit zigzagman 01/12/17 03:48:26 PM
#17925   $TWOH Short Term Indicators Robertscott 01/12/17 02:51:55 PM
#17924   SNDY's mission is to develop and market breakthrough zigzagman 01/12/17 01:02:11 PM
#17923   History of $TWOH Company easymoneylucy 01/12/17 12:45:42 PM
#17922   $UPIN Low float a decent SS Robertscott 01/12/17 12:08:45 PM
#17921   Can we see the .003's today? $FDBL myopinion 01/12/17 11:45:43 AM
#17920   DPRX $1.60 +6.7% PLX PHARMA MERGER PENDING + l2 hunter 01/12/17 10:49:24 AM
#17919   Breaking NEWS from $ICLD zigzagman 01/12/17 09:47:51 AM
#17918   Nadav Elituv, CEO of $TWOH stated: "The application easymoneylucy 01/12/17 09:33:27 AM
#17917   $UPIN merger with XPAL completed. Website redirects to Robertscott 01/12/17 09:24:36 AM
#17916   ARYC ....... Arrayit Corporation is an emerging Jimmy Jackson jr 01/12/17 08:11:18 AM
#17915   $PMCB PharmaCyte Biotech - Diabetes Treatm $Pistol Pete$ 01/12/17 02:31:47 AM
#17914   $SIPC We're working on a line of products $Pistol Pete$ 01/12/17 01:21:23 AM
#17913   Arrayit and USDA Expanding Patent Protection for Food phinehas 01/11/17 11:22:36 PM
#17912   $GSS rumbled myopinion 01/11/17 06:59:16 PM
#17911   Arrayit Corporation $ARYC had over $2.3 million Jimmy Jackson jr 01/11/17 06:29:05 PM
#17910   $SNDY is overdue for an update. Place $SNDY langlui 01/11/17 03:03:45 PM
#17909   $TWOH The Company wants to help co-parenting parents Robertscott 01/11/17 02:03:35 PM
#17908   $SNDY has 21 FDA Approved medical devices! zigzagman 01/11/17 01:20:48 PM
#17907   SDVI Blockbuster News Out~>ACQUIRES_4_IoT_COMPANIES! This is huge news Carjockey2 01/11/17 09:12:01 AM
#17906   Radar $TWOH "Two Hands" is Looking for Co-Parents easymoneylucy 01/11/17 09:10:07 AM
#17905   $TWOH Mr. Elituv continues, "The campaign addresses the Robertscott 01/11/17 08:55:50 AM
#17904   $PMCB Cell-in-a-Box: PharmaCyte seeks FDA advice for ino $Pistol Pete$ 01/11/17 12:30:20 AM
#17903   $INNL THE INNOCOLL AG (INNL) PRICE TARGET $13.00 INNL $Pistol Pete$ 01/11/17 12:13:37 AM
#17902   BAYP 0002 273 milly left. Thinning. 0002 break coming ConstructionKing 01/10/17 01:14:38 PM
#17901   $SHOM ~ It is the mission of Southern Robertscott 01/10/17 11:44:46 AM
#17900   $SHOM 0018 hod up! $SHOM Signs Collaboration Agreement Robertscott 01/10/17 11:41:53 AM
#17899   $TWOH Vision & Mission They would like to Robertscott 01/10/17 10:02:35 AM
#17898   $FDBL "Blue Sky" myopinion 01/10/17 09:55:10 AM
#17897   Radar $SNDY right away. Endoscopic Instrumentation and langlui 01/10/17 09:17:30 AM
#17896   $PMCB PharmaCyte Biotech’s Cannabinoid Therapy PMCB[/ $Pistol Pete$ 01/10/17 01:14:13 AM
#17895   $ASTI Ascent Solar Technologies *ASTI Stock: Yet Another myopinion 01/07/17 10:17:27 AM
#17894   $FDBL up she goes myopinion 01/06/17 10:00:49 AM
#17893   Great information in the iBox for $SNDY! Check langlui 01/06/17 09:54:13 AM
#17892   $SHOM ~ The products and services displayed on Robertscott 01/06/17 09:39:10 AM
#17891   $SHOM Southern Home Medica (SHOM) Robertscott 01/05/17 01:45:59 PM