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April 27, 2014
20:58 EDTACST, NEPTNeptune, Enzymotec conclude patent infringement settlement, license agreement
Neptune Technologies & Bioressources (NEPT) and Acasti Pharma (ACST), a Neptune subsidiary, announce that a final and binding patent infringement settlement and license agreement has been signed with Enzymotec and Enzymotec USA, that resolves the International Trade Commission's, ITC, investigation of infringement of Neptune's composition of matter patents, related federal court actions initiated by Neptune against Enzymotec and its distributors, and various patent review proceedings requested by Enzymotec. As part of the settlement, Neptune granted a world-wide, non-exclusive, royalty-bearing license to Enzymotec, allowing it to market and sell its nutraceutical products under Neptune's '348 family of patents. Under the terms of the settlement, royalty levels in the USA are dependent on the outcome of pending inter partes review proceedings before the U.S. Patent and Trademark Office, USPTO, regarding certain claims of Neptune's '351 composition of matter patent. Furthermore, royalty levels in Australia are dependent on a potential request by Enzymotec to the Australian Patent Office for a post-grant review of certain claims of Neptune's allowed composition of matter patent application. Enzymotec also agreed to pay Neptune a non-refundable one-time upfront settlement payment. The financial terms of the license are confidential between the parties.
News For NEPT;ACST From The Last 14 Days
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November 21, 2014
08:08 EDTNEPTNeptune Technologies appoints Jim Hamilton as CEO
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November 11, 2014
08:11 EDTACSTAcasti Pharma receives NASDAQ notification regarding minimum bid requirements
Acasti Pharma announces that on November 7 it received notification from the NASDAQ Listing Qualifications Department for failing to maintain a minimum bid price of $1.00 per share for the last 30 consecutive business days, as required by NASDAQ Listing Rule 5550(a)(2) bid price. The NASDAQ notification has no immediate effect on the listing of the Corporation's shares. Under NASDAQ rule 5810(c)(3)(A) compliance period, the corporation has 180 calendar days, or until May 6, 2015, to regain compliance. If at any time over this period the bid price of Acasti's shares closes at $1.00 per share or more for a minimum of ten consecutive business days, NASDAQ will provide written confirmation of compliance and the matter will be closed. If Acasti does not regain compliance within the initial 180-day period, but meets the continued listing requirements for market value of publicly held shares and all other initial listing standards for the NASDAQ Capital Market, except for the bid price requirement, the corporation may be eligible for an additional 180 calendar days to regain compliance. If the corporation is not granted additional time, then the securities will be subject to delisting, at which time the corporation may appeal the delisting determination to a NASDAQ Hearings Panel. The company intends to evaluate all available options to resolve the deficiency and regain compliance with the Minimum Bid Price Rule.

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