RegeneRx Receives Stockholder Approval for Reverse Stock Split

ROCKVILLE, Md., Aug. 7, 2023 /PRNewswire/ -- RegeneRx Biopharmaceuticals, Inc. (OTC: RGRX) ("RegeneRx" or the "Company"), a clinical-stage drug development company focused on tissue protection, repair, and regeneration, announced that, pursuant to the company's consent solicitation dated July 11, 2023, it has received consents as of August 3, 2023 from the holders of 51.07% of the Company's Common Stock in favor of the proposed reverse stock split, which is a prerequisite to allowing the Company to suspend its public reporting obligations under the Securities Exchange Act of 1934 and become a non-reporting, privately held company.

J.J. Finkelstein, the Company's CEO, commented, "We thank our stockholders for voting in favor of the proposed reverse stock split. We expect to effect a 1-for-100 reverse split in our outstanding shares of Common Stock on or about August 14, 2023.  Promptly thereafter, we expect to file the requisite Forms 15 to suspend our continued obligations to file reports with the SEC pursuant to the Securities Exchange Act of 1934, as amended."

Any questions can be directed to Mr. J.J. Finkelstein at 301.208.9191 or by email to [email protected].

Forward-Looking Statements

Any statements in this press release that are not historical facts are forward-looking statements made under the provisions of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Please view risks described in the Company's filings with the Securities and Exchange Commission ("SEC"), including those identified in the "Risk Factors" section of the annual report on Form 10-K for the year ended December 31, 2022, and subsequent quarterly reports filed on Form 10-Q, as well as other filings it makes with the SEC. Any forward-looking statements in this press release represent the Company's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. The Company specifically disclaims any obligation to update this information, as a result of future events or otherwise, except as required by applicable law.

SOURCE RegeneRx Biopharmaceuticals, Inc.