ProPhase Labs Stockholders Deliver Strong Mandate at Special Meeting
UNIONDALE, NY, Sept. 12, 2025 (GLOBE NEWSWIRE) -- ProPhase Labs, Inc. (NASDAQ: PRPH) ("ProPhase" or the "Company"), a next generation biotech, genomics and consumer products company, today announced that stockholders delivered a strong mandate at the Company's September 9, 2025 Special Meeting, approving all proposals on the agenda. With each proposal receiving more than 75% support, ProPhase received clear authorization to move forward with its strategic initiatives, including a significant increase in authorized shares to 1 billion.
This success follows the re-election of the Board at the June annual meeting by in excess of 90% in favor of each director.
"This strong mandate to increase the authorized shares gives us the resources to pursue strategic opportunities and innovative initiatives. In particular, this was an important next step in order to advance a potential crypto treasury strategy to enhance stockholder value and diversify our balance sheet as well as to develop and grow the Company's current subsidiaries," said Ted Karkus, Chief Executive Officer and Chairman of ProPhase Labs. "We are very pleased with the overwhelming support from our stockholders for each of these important initiatives."
Final voting results will be reported on a Current Report on Form 8-K filed with the Securities and Exchange Commission.
The Company anticipates that it will be updating stockholders in the near future regarding positive developments in the Crown Medical Collections initiative to net up to $50 million in Covid accounts receivables as well as positive developments toward the commercialization of its BE-Smart Esophageal Cancer Test.
About ProPhase Labs Inc.
ProPhase Labs Inc. (Nasdaq: PRPH) ("ProPhase") is a next-generation biotech, genomics and consumer products company. Our mission is to build a healthier world through bold innovation and actionable insight. We're revolutionizing healthcare with industry-leading Whole Genome Sequencing solutions, groundbreaking diagnostic development - such as our potentially life-saving test for the early detection of esophageal cancer - and a world class direct-to-consumer marketing platform for cutting edge OTC dietary supplements. We develop, manufacture, and commercialize health and wellness solutions to enable people to live their best lives. We are committed to executional excellence, smart diversification, and a synergistic, omni-channel approach. ProPhase Labs' valuable subsidiaries, their synergies, and significant growth underscore our potential for long-term value. www.ProPhaseLabs.com
Forward-Looking Statements
Except for the historical information contained herein, this document contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our strategy, plans, objectives and initiatives, including our expectations regarding the future revenue growth potential of each of our subsidiaries, our expected timeline for commercializing our BE-Smart Esophageal Cancer Test, our expectations regarding future liquidity events, the success of our efforts to collect accounts receivables and anticipated timeline for any payments relating thereto, and our ability to successfully transition into a consumer products company. Management believes that these forward-looking statements are reasonable as and when made. However, such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those projected in the forward-looking statements. These risks and uncertainties include but are not limited to our ability to obtain and maintain necessary regulatory approvals, general economic conditions, consumer demand for our products and services, challenges relating to entering into and growing new business lines, the competitive environment, and the risk factors listed from time to time in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and any other SEC filings. These forward-looking statements are subject to risks and uncertainties and actual results may differ materially. Details about these risks and uncertainties can be found in our filings with the SEC. The Company undertakes no obligation to update forward-looking statements except as required by applicable securities laws. Readers are cautioned that forward-looking statements are not guarantees of future performance and are cautioned not to place undue reliance on any forward-looking statements.
Media Relations and Institutional Investor Contact:
ProPhase Labs, Inc.
investorrelations@prophaselabs.com
Retail Investor Relations Contact:
Renmark Financial Communications
John Boidman: jboidman@renmarkfinancial.com
Tel.: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com
