https://www.sec.gov/Archives/edgar/data/94664...fan14a.htm
SEC it was in your files I posted this a long time ago to see if anyone notice maybe the SEC employee who was lurking…
DOJ did you miss it? Amarex you alright I heard you called some lawyers I’m sorry they can’t help you.
I’ll connect the dots. For everyone. Read this first…
“The only two trials noted above that would be company-sponsored trials are AMP-270 and AMP-518, but one is significantly delayed and the other has been completed for a year with no visibility on next steps. Spending on these trials has been extremely limited in recent periods and it does not appear that AIM has the funding to continue them.
The are also both being run by Amarex, AIM’s contract research organization (“CRO”).15 The co-founder and, until recently, CEO of Amarex, Kazem Kazempour, was recently convicted of securities fraud and wire fraud in a criminal trial. The former CEO of Amarex’s former client, Cytodyn Inc., was also convicted of securities fraud, wire fraud and insider trading. These convictions related to false and misleading statements about the timeline and status of Cytodyn’s regulatory submissions to the FDA and related trading activities.16
Equels and the AIM Board have continued to pay Amarex in the past few years. Kazempour himself was quoted in several AIM press releases in recent years promoting purported clinical progress. 17 In one of these releases, Kazempour was quoted as saying there was every hope to dose the first patient in the AMP-270 study before the end of 2022. As noted above, AIM had to submit a revised protocol to the FDA and two years later, this has still not occurred. Amarex itself recently settled claims from Cytodyn by agreeing to payments and credits totaling approximately $25.0 million.18
The parallels between AIM’s situation and the activity at Cytodyn are extremely concerning to us. It appears that AIM and Cytodyn are the only two U.S. public companies to disclose a relationship with Amarex in the past year.19 The incumbent Board has not done anything to dispel these concerns. The incumbent Board and Mr. Equels have never provided an adequate explanation to stockholders of the appropriateness of this ongoing relationship with a troubled CRO or of the former close working relationship with a convicted felon, its co-founder. AIM has never commented on the impact to AIM’s relationships with regulators or whether Amarex’s issues have contributed to the delays in these two trials, or why they even continue to remain committed to an organization that has had to pay millions of dollars in a settlement and has had their co-founder and former CEO convicted of crimes.
The lack of transparency and accountability to stockholders about these fundamentally important issues is unacceptable and is another reason why we do not believe any of the incumbent Board’s claims about clinical progress can be trusted.
Rather than Invest in Ampligen, the Incumbent Board has Wasted Assets
Most of the Ampligen trials that AIM describes are third-party studies that AIM does not control and does not significantly invest in. These third-party trials move at their own pace with no sense of urgency and are not a recipe for regulatory approvals or commercialization or value creation for stockholders. This has been amply demonstrated during the long tenure of the incumbent Board.
AIM’s failed strategy results in limited R&D spending and the incumbent Board uses limited available funds instead on wasteful G&A spending, including excessive compensation and in recent years its egregious entrenchment campaign that has brought AIM to the brink of insolvency.
Consider that AIM had $38.5 million in cash at the end of 2020 after raising $53.9 million that year from the proceeds of ATM sales, largely on the back of COVID-19 press releases issued that year that ultimately did not lead to anything.20 While these ATM sales in such large volumes were tremendously dilutive to stockholders, if the incumbent Board had invested the proceeds into an aggressive clinical program to advance Ampligen across multiple indications over the past four years, AIM could be in a better place today. But the incumbent Board did not do this.“
BREAKING: Same CRO. Same Crime. Different Company.
Remember the CRO behind CytoDyn’s $25M lawsuit and the DOJ wire fraud convictions?
➡️ That same CRO Amarex is now back in the spotlight.
Turns out another public company (AIM Immunotech) kept using them even after Amarex’s co-founder was convicted of securities and wire fraud.
Let that sink in:
• The same Kazem Kazempour convicted by a federal jury.
• The same Amarex that botched data, buried DSMB safety oversight, and nearly cost CytoDyn its entire drug pipeline.
• The same FDA that said nothing… while trials stalled and shareholders burned.
And guess what? AIM’s board still hasn’t explained the delays, the association with a criminal CRO, or why they kept paying them after the convictions.
We connected the entire paper trail.
[Insert link to the PDF here] Oh I have more evidence.
Welcome to Scroll 1268: Federal Evidence Edition.
This isn’t just CytoDyn anymore.
This is a pattern.
This is a cover-up.
This is federal liability.
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