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PharmAthene, Inc. Message Board

  • toobig2failagain toobig2failagain May 25, 2013 1:12 AM Flag

    Interesting Ruling....

    The Delaware Supreme Court ruling says that the doctrine of promissory estoppel does not apply because the LATS agreement should be considered an enforceable agreement based upon their ruling and therefore only expectation damages could be awarded along with the enforcement of the LATS agreement.

    The  LATS  contemplates a license agreement along the following lines to support  the  further development  and  commercialization  of  ST–246  for the treatment of smallpox. 

    SIGA would grant to PharmAthene “a  worldwide exclusive license and [sic] under the Patents, Know–How  and  Materials  to  use,  develop,  make,  have  made,  sell,  export  and  import  Products  in  Field.
    The  right  to  grant  sublicenses  shall be specifically included in the license.” 

    Second, the license would cover  ST–246  and  all  other  related products  worldwide  covered  by  the  patents and know­how relating to ST–246 and its development and manufacture. 

    PharmAthene was  scheduled  to  pay  a  “License  Fee”  of  $6  million  in  total,  which  consisted of $2 million cash upfront, $2.5 million as a deferred license fee to be paid twelve months after 
    execution of a license agreement if  certain  events  occurred,  and  $1.5  million  after  SIGA  obtained  financing in excess of $15 million.  In addition, the LATS contained a  provision  under  which  PharmAthene  would  pay  an  additional  $10 million based on the achievement of specific milestones relating to certain  sales  targets  and  regulatory  approvals. 

    Sentiment: Strong Buy

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    • Hope to see $3.00 next week!!!

      Sentiment: Strong Buy

    • you left this section out "The LATS also
      provided for PharmAthene to make annual royalty payments of 8% on
      “yearly net sales of Patented Products” of less than $250 million, 10%
      on sales greater than $250 million, and 12% on sales greater than $1
      billion. Lastly, the LATS stated that, “[i]n addition, SIGA will be
      entitled to receive 50% of any amounts by which net margin exceeds
      20% on sales to the U.S. Federal Government."

1.73+0.10(+6.13%)Feb 5 4:01 PMEST