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News Breaks
May 26, 2013
19:02 EDTSIGA, PIPCourt affirms ruling that SIGA breached contractual obligation with PharmAthene
PharmAthene (PIP) announced that the Delaware Supreme Court upheld the earlier ruling that SIGA (SIGA) breached its contractual obligation to negotiate in good faith. The Court has remanded the case to the Delaware Court of Chancery for further reconsideration of the damages award, consistent with its opinion. "We are pleased by this positive decision from the Delaware Supreme Court, which conclusively affirms SIGA's liability for their failure to negotiate the terms of a license agreement with us in good faith," said Eric I. Richman, President and CEO. "Further, the Court established new Delaware law making expectation damages available in these circumstances. This is a significant legal victory for our Company and an important decision with respect to Delaware law. We look forward to final resolution of the case in front of the Delaware Court of Chancery." In addition, the Supreme Court also upheld the Delaware Court of Chancery decision entitling PharmAthene to receive reimbursement for a portion of its legal fees and expert witness costs and remanded to the Court of Chancery for further reconsideration of the amount of those fees and costs consistent with its opinion.
News For PIP;SIGA From The Last 14 Days
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April 13, 2015
08:11 EDTPIPPharmAthene receives $5.8M payment from BARDA
PharmAthene announced that on April 9 it received from the Biomedical Advanced Research and Development Authority, or BARDA, a one-time payment of $5.8M related to the reconciliation between the actual and the provisional rates on the performance of the SparVax contract for the years 2008 through 2013 for actual costs incurred during that period. The contract ended on February 28

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