SANTA CLARA, Calif.--(BUSINESS WIRE)--XenoPort, Inc. (Nasdaq: XNPT) today announced that, based on the estimated vote count provided by its proxy solicitor, stockholders have elected by a wide margin all of the XenoPort director nominees at the Company’s 2014 Annual Meeting of Stockholders: Ronald W. Barrett, Ph.D., Jeryl L. Hilleman and Wendell Wierenga, Ph.D. At the meeting, XenoPort estimates that at least 46.6 million votes were cast for each of Dr. Barrett, Ms. Hilleman and Dr. Wierenga. This compares to approximately 6.6 million votes for two of the director nominees proposed by Clinton Relational Opportunity Master Fund, L.P. and its affiliates (Clinton): Kevin Cameron and Charles Rowland, Jr., and approximately 3.2 million votes cast for Clinton’s third nominee, Rael Mazansky, M.D.
Commenting on the estimated results, XenoPort issued the following statement:
“On behalf of XenoPort’s Board and management team, we wish to thank our stockholders for their participation and support throughout this process. We remain focused on continuing to execute our strategic plans, including advancing the development of XP23829 and building value in HORIZANT® (gabapentin enacarbil) Extended-Release Tablets.”
The estimated vote count also indicates that stockholders voted "FOR" the approval of the XenoPort, Inc. 2014 Equity Incentive Plan, "FOR" the approval, on an advisory basis, of the compensation of XenoPort's named executive officers and "FOR" the ratification of the selection by the audit committee of the Board of Directors of Ernst & Young LLP as XenoPort's independent registered public accounting firm for the fiscal year ending December 31, 2014. Stockholders also supported the Board’s recommendations and voted "FOR" Proposals 9 through 14, and voted "AGAINST" Proposals 5 through 7, all as submitted by Clinton. Based on the estimated count, stockholders voted “FOR,” on an advisory basis, Proposal 8 regarding supermajority voting.
IVS Associates, Inc., the independent Inspector of Elections, has indicated that it expects to issue a preliminary tabulation of the vote results within four business days. Final results will be published once they are certified by the Inspector.
XenoPort, Inc. is a biopharmaceutical company focused on developing and commercializing a portfolio of internally discovered product candidates for the potential treatment of neurological disorders. XenoPort is currently commercializing HORIZANT in the United States and developing its novel fumaric acid ester product candidate, XP23829, as a potential treatment for psoriasis and/or relapsing forms of multiple sclerosis. REGNITE® (gabapentin enacarbil) Extended-Release Tablets is being marketed in Japan by Astellas Pharma Inc. XenoPort's pipeline of product candidates also includes a potential treatment for patients with Parkinson's disease. To learn more about XenoPort, please visit the website at www.XenoPort.com.
HORIZANT, REGNITE and XENOPORT are registered trademarks of XenoPort, Inc.