aibioSilexion adjourns vote on 500 million new shares and reverse split to October 26
Tickers SLXN
The company says it needs both measures to protect its Nasdaq listing, with 14,473,292 shares already outstanding against 15,900,000 authorized. Shareholders rejected smaller versions in September.
Key facts
- Company
- Silexion Therapeutics Corp (NASDAQ: SLXN)
- News type
- Listings
- Primary source
- SEC EDGAR: Silexion DEFA14A
Silexion Therapeutics Corp (Nasdaq: SLXN) convened its extraordinary general meeting on October 19, 2026 and adjourned it for one week without conducting any business. The meeting will reconvene on October 26, 2026 at 9:00 a.m. Eastern Time, at the offices of its external legal counsel, Meitar Law Offices, in Givatayim, Israel. The company announced the adjournment in a Schedule 14A filing that day.
Shareholders are being asked to approve two proposals. The first would increase the company's authorized share capital by 500,000,000 ordinary shares, from 15,900,000 shares to 515,900,000 shares, each with a par value of US$0.135. The second would authorize the board to effect a reverse share split at a ratio of not less than 1-for-15 and not more than 1-for-25, with the exact ratio set by the board based on market conditions.
Why the company wants both
The company says the share increase is intended to help it restore and maintain compliance with Nasdaq Listing Rule 5550(b)(1), which requires at least $2.5 million of shareholders' equity under the Equity Standard. Its proxy statement says its authorized share capital "has been depleted over time" by frequent financing transactions and difficult market conditions that hurt the share price. The company says it also needs shares for its KRAS-driven solid tumor program and for possible business development deals, and that its expenses are expected to increase substantially as it advances Phase 2/3 trials of its lead candidate, SIL204.
The proxy statement says 14,473,292 ordinary shares were outstanding as of September 30, 2026, against 15,900,000 authorized. It says the company expects to issue more shares or equivalents under its at-the-market program, outstanding warrants and potential public offerings. The company's annual report names H.C. Wainwright as sales agent on that program, under an agreement dated September 26, 2025 for up to $13,170,000 of ordinary shares.
The listing
The reverse split is aimed at Nasdaq Listing Rule 5550(a)(2), the $1.00 minimum bid price. The proxy statement says the company effected a 1-for-10 reverse share split on May 28, 2026, and its shares then closed below $1.00 for 30 consecutive trading days. It says it received notice from Nasdaq on September 25, 2026 and would ordinarily face immediate delisting proceedings. It told a Nasdaq hearings panel on September 24, 2026 that it expects a new split to restore compliance as soon as practicable after the meeting, if shareholders approve. The company says the panel is considering its compliance plan. The filings do not say what happens to the listing if the October 26 vote fails.
The September votes
The meeting was first scheduled for September 9, 2026 and was adjourned for lack of a quorum to September 16. It was adjourned again and reconvened on September 23, 2026. Holders of 2,208,353 ordinary shares, about 36.8% of the issued and outstanding shares, were present in person or by proxy. Under the company's articles, those present formed a quorum after a half hour.
Shareholders rejected a smaller increase of 175,000,000 shares. The company's Form 8-K reports 536,203 votes in favor, or 24.6%, and 1,645,147 against, or 75.4%, with 27,003 abstentions. Shareholders also rejected a 1-for-15 reverse split, with 571,411 votes in favor, or 25.9%, and 1,636,939 against, or 74.1%. The 8-K says neither proposal passed.
Money and the science
The company's 10-K, filed March 17, 2026, reports a net loss of $11.9 million for 2025, against $16.5 million in 2024. Cash used in operations was $10.8 million, against $8.4 million. Cash and cash equivalents were $6.0 million at the end of 2025 and $2.2 million at June 30, 2026, according to the quarterly report.
Silexion describes itself as a clinical-stage oncology company. SIL204 is a locally administered small interfering RNA therapy for locally advanced pancreatic cancer, given with standard chemotherapy. The company says its first-generation product completed a Phase 2a trial that "showed a positive trend" against chemotherapy alone. A trend is not a reported statistically significant result, and the filings give no trial size, endpoints or p-values. The company now advances SIL204 through Phase 2/3 clinical evaluation, with trials underway or planned in Israel and Germany.