Mateon Therapeutics Extends Proposed Transaction Date with Mosaic ImmunoEngineering – Form 8-K Filing Summary

Mateon Therapeutics, Inc. recently disclosed in a Form 8-K filing submitted to the U.S. Securities and Exchange Commission (SEC) that it has agreed to extend the timeline for its Proposed Transaction with Mosaic ImmunoEngineering, Inc. The initial agreement was reported in a Current Report on Form 8-K dated April 29, 2024. This agreement involved a binding term sheet with Mosaic, which was set to expire 90 days from its inception. The term sheet also outlined provisions for a potential reverse merger of Mosaic with Mateon Therapeutics under specific conditions.

Following subsequent developments, Mateon Therapeutics extended the term outlined in the original binding term sheet to December 31, 2024, as reported in the Quarterly Report on Form 10-Q for the three and six months ending June 30, 2024, filed with the SEC on August 14, 2024. As of December 31, 2024, both companies made the decision to progress with the Proposed Transaction and mutually agreed to further prolong the completion date to no later than June 30, 2025. However, the company noted that this extension does not guarantee the finalization of any definitive agreement between the entities.

An additional document, the term extension letter dated December 31, 2024, has been filed alongside the Current Report on Form 8-K to provide clarity on the updated timeline for the Proposed Transaction. The information in this report, specifically in Section 8.01 and Exhibit 10.1, is being shared for disclosure purposes and is not intended to be considered as “filed” under the Securities Exchange Act of 1934, except as specifically referenced in future filings.

This development in the agreed timeline for the Proposed Transaction between Mateon Therapeutics and Mosaic highlights the ongoing strategic discussions and collaborations in the healthcare and biotechnology sector.

For more information and details regarding this update, please refer directly to the official filing on the SEC’s website or through authorized financial channels.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Mateon Therapeutics’s 8K filing here.

About Mateon Therapeutics

Mateon Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in developing drugs for the treatment of orphan oncology indications. The company's lead product candidate is OT-101, an antisense against TGF-beta, which is in phase 3 clinical trials for pancreatic cancer and glioblastoma, as well as develops OT-101 for the treatment of various viruses, including severe acute respiratory syndrome and coronavirus.