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Stock Market & Financial Investment News

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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November 20, 2014
10:16 EDTPIPPharmAthene reports Valortim IDIQ contract fulfilled
PharmAthene announced that it has fulfilled its obligations under a fixed price, indefinite delivery, indefinite quantity, or IDIQ, contract, awarded in 2013 by the Biomedical Advanced Research and Development Authority for the company's anthrax anti-toxin, Valortim. Under the IDIQ contract, PharmAthene was selected to provide a specified quantity of its Valortim anthrax anti-toxin master cell bank for secure storage by the government as part of a risk mitigation strategy for anthrax medical countermeasures.

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