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Stock Market & Financial Investment News

News Breaks
December 24, 2012
08:03 EDTQLTIQLT Inc. announces exclusive option for potential sale of PPDS for $500K
QLT Inc. announced that the company has entered into an exclusive option agreement with Mati Therapeutics under which QLT has granted Mati a 90-day option to acquire assets related to QLT's punctal plug drug delivery system, or PPDS, technology in exchange for $500,000. The option may be extended by Mati for up to three successive 30-day periods upon payment of an additional $100,000 for each extension. Should Mati exercise the option, QLT and Mati will enter into an asset purchase agreement and QLT will be entitled to a closing payment of $750,000, certain milestone payments and a low single digit royalty on world-wide net sales of all products using or developed from the Technology.
News For QLTI From The Last 14 Days
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August 27, 2015
08:37 EDTQLTIQLT Inc., InSite Vision agree on amended, restated merger agreement
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08:31 EDTQLTIInsite Vision, QLT amend merger agreement
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August 21, 2015
08:44 EDTQLTIQLT Inc. provides update on proposed acquisition of InSite Vision
QLT Inc. announces that it has been advised by InSite Vision that the board of InSite has determined in good faith after consultation with its independent financial and legal advisors that the previously announced unsolicited offer from a multi-national pharmaceutical company to acquire all of the issued and outstanding shares of InSite constitutes a "Company Superior Proposal" as defined in the Agreement and Plan of Merger, dated June 8, by and among Insite, QLT and Isotope Acquisition Corp., as amended and restated. InSite has further advised QLT that InSite intends, subject to QLT's right to match the Proposal, to terminate the Merger Agreement and enter into an agreement with the Bidder to implement the Proposal. Under the Merger Agreement, QLT has the option until 5:00 p.m. PDT on Wednesday, August 26, to negotiate a possible amendment to the terms of the Merger Agreement to match or exceed the Proposal. InSite has advised QLT that it intends to negotiate in good faith with QLT during the Negotiation Period. If at the end of the Negotiation Period such amended QLT proposal results in the Proposal not being a "Company Superior Proposal" under the Merger Agreement, InSite and QLT will enter into an agreement to reflect the amended terms of the transaction. In the event that QLT elects not to match or exceed the Proposal and if InSite terminates the Merger Agreement in order to enter into an agreement with the Bidder, then InSite is required to pay a termination fee to QLT in the amount of $1.17M. QLT is considering its position with respect to the Proposal and its matching right, and will keep the market apprised of further developments.
08:31 EDTQLTIInSite Vision says unsolicted offer a 'company superior proposal'
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