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May 26, 2013
18:58 EDTSIGA, PIPSIGA says court reverses 'equitable payment stream' to PharmAthene
SIGA Technologies (SIGA) reported that the Delaware Supreme Court reversed the award of an "equitable payment stream" by the Court of Chancery in its May 31, 2012 Final Order and Judgment in PharmAthene (PIP) v. SIGA Technologies and also remanded the case to the Court of Chancery for further proceedings to determine appropriate damages. William J. Haynes II, SIGA's General Counsel, commented, "We are pleased with the Delaware Supreme Court ruling issued on Friday. The Supreme Court's decision states that PharmAthene may only obtain damages for its lost expectancy if it can prove them 'with reasonable certainty.' We intend to establish to the Chancery Court, consistent with that Court's earlier conclusions, that PharmAthene's evidence of expectancy damages is speculative and too uncertain, contingent, and conjectural to permit an award." Dr. Eric A. Rose, SIGA's Chief Executive Officer, commented, "While legal proceedings may continue, we will now focus with even greater intensity on growing and enhancing SIGA's business, executing our existing contract with BARDA, seeking approval and licensing of Arestvyrô from the U.S. Food and Drug Administration, and making greater use of our proven antiviral drug discovery and development capabilities."
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April 10, 2014
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April 7, 2014
09:02 EDTPIPPharmAthene receives notice advising company of of SparVax anthrax vaccine
PharmAthene announced that it has received notice from the Department of Health and Human Services, Biomedical Advanced Research and Development Authority, advising the company of its decision to de-scope the current SparVax anthrax vaccine contract through a partial termination for convenience. BARDA will provide additional guidance to PharmAthene on the contractual changes, following which PharmAthene will evaluate its options with respect to its SparVax program. PharmAthene has been developing SparVax to address a requirement for a modern anthrax vaccine based on state-of-the-art vaccine technology. Phase 1 and Phase 2 clinical trials involving 770 healthy subjects have demonstrated that SparVax appears to be well tolerated and capable of producing an immune response in humans.

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