Bio Path Holdings Inc (BPTH)

[pvrad]

I received a call from attorney Brian O'Neill this afternoon.

I had sent him links to the Articles of Incorporation, the Bylaws, the Proxy Statement sent for the shareholder meeting, the Form 8-K (vote results) and copies of Brettj's email communication with Doug (posts $3447 and #3450).

Brian indicated that his research confirmed that the NYSE can decide if proposals are "routine" or "non routine". He commented that the Reverse Stock Split can be considered routine since at the time of the split there is no loss in the value of the investment (although I tend to agree with those on this board who feel it will only lead to more shorting of the stock in the near future).

He referred me to the recent case of Galena in which a Reverse Stock Split was initially proposed as "non routine". However, the shareholder meeting was adjourned without considering the proposal so that a supplemental Proxy Statement could be issued to shareholders changing the proposal to "routine". Once the shareholders were properly notified of the change, the meeting was reconvened and the proposal passed, I assume with the help of Broker non-votes.

See: https://globenewswire.com/news-release/2017/12/14/1262343/0/en/Galena-Will-Adjourn-Special-Meeting-until-Friday-December-29-2017-Urges-Stockholders-to-Vote.html

And: https://globenewswire.com/news-release/2017/12/29/1276660/0/en/Galena-Biopharma-Inc-Stockholders-Approve-Business-Combination-with-SELLAS-Life-Sciences-Group-Ltd-Board-Sets-Reverse-Stock-Split-Ratio.html

While a little disappointed, I didn't press other issues that have been addressed on this board. Brian was kind enough not to charge for his research into the question. I figured the central issue I had concerns about was essentially settled, so I thanked him for his generosity and ended the call.

(SJ, In my email to Brian earlier this week, I let him know you had emailed Francis and told Brian - I hope correctly - that your email and my inquiry were not meant to be separate cases but were part of the same one. I didn't want two separate cases costing more than necessary. I don't know what issues you raised in your email, however. If you have other concerns you want to have resolved, please let Francis know in a follow up email in case Brian suggests to him that the matter has been resolved.)

So, I am pacified for now (guns down). I remain optimistic that the science is able to save the company in spite of current management.

Thanks all, for your insightful posts.