In a recent 8-K filing with the Securities and Exchange Commission (SEC), Century Therapeutics, Inc. disclosed the outcomes of its 2024 Annual Meeting of Stockholders, which took place on Thursday. Shareholders voted on several key proposals, including the election of Class III directors and the ratification of the company's independent accountant.
The election saw all three Class III director nominees—Kimberly Blackwell, M.D., Joseph Jimenez, and Brent Pfeiffenberger, Pharm.D.—secure positions on the board. Dr. Blackwell received 59,931,468 votes for and 6,014,484 abstentions, Jimenez garnered 64,376,622 votes for and 1,569,330 abstentions, and Dr. Pfeiffenberger achieved 65,728,988 votes for with 216,964 abstentions. There were 7,395,050 broker non-votes recorded for each candidate.
Moreover, the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year 2024 was ratified with an overwhelming majority of 72,250,603 votes for, 1,065,984 against, and 24,413 abstentions.
Another significant proposal approved was the Amendment to the Company’s Second Amended and Restated Certificate of Incorporation. The amendment, aimed at limiting the liability of certain officers in accordance with recent amendments to Delaware law, passed with 64,419,117 votes for, 1,488,443 against, and 38,391 abstentions.
These results reflect the decisions made by the stockholders of Century Therapeutics, a company specializing in biological products, as they shape the governance and oversight of the company moving forward. The company, headquartered in Philadelphia, Pennsylvania, is recognized as an emerging growth company under the SEC's definitions.
The information presented in this article is based on the statements made in the SEC filing by Century Therapeutics, Inc.
In other recent news, Century Therapeutics has been the focus of several significant developments. Piper Sandler, an investment firm, adjusted its price target for Century Therapeutics to $12.00 from the previous $9.00, maintaining an Overweight rating on the stock. The firm's confidence in Century's trajectory is underpinned by the anticipation of further data and the expansion of Century's treatment applications.
Century Therapeutics also recently acquired Clade Therapeutics, a move that strengthens its position in the field of induced pluripotent stem cell (iPSC)-derived cell therapies. The acquisition includes preclinical alpha-beta CAR-iT cells, such as CLDE-308 and CLDE-361, further enhancing Century's pipeline.
The company reported progress in its Phase 1 ELiPSE-1 study of CNTY-101, an immunotherapy for patients with relapsed or refractory non-Hodgkin lymphoma. The interim results suggest that CNTY-101 is well-tolerated with promising preliminary efficacy. Moreover, Century Therapeutics plans to initiate a second Phase 1 clinical trial for CNTY-101 in patients with systemic lupus erythematosus.
Century Therapeutics is also expanding its clinical development for CNTY-101 to target additional autoimmune disease indications. This expansion is supported by a $60 million private placement led by Bain Capital Life Sciences, intended to extend the company's financial runway into 2026.
These recent developments reflect Century Therapeutics' ongoing efforts to advance its research and broaden its treatment applications.
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