"We have also incurred, and will continue to incur during the pendency of the litigation, significant costs, and the defense of this litigation has diverted, and until resolved will continue to divert, the attention of our management and other resources that would otherwise be engaged in other activities."
This is the worst 1. In other words, we spend lots of your investment in time and money on this lawsuit, and will for some time. I guess mgmt has nothing better to do. I mean, this is what a biotech company should do right?
The others read "may" so at least they admit they are already spending fortunes and lots of time on 1. I hope they can end the others quickly
"In addition, the defense of litigation and related matters are costly and may divert the attention of our management and other resources that would otherwise be engaged in other activities. "
Good observations. However, Alnylam is the smart one in this equation. These type of law suits never amount to anything and they are hard to prove. Tekmira being the smaller one has more to lose and will be forced to arbitration. Counter suit was a smart move to exhaust Tekmira resources and rack up more legal fees for them.
There already is a firm trial date. And Alcana scientists have already been ordered by a canadian court to return stolen documents.
This is what alnylam now admits:
"we could lose access to certain aspects of our LNP delivery technology, including MC3, which would adversely impact certain of our clinical development programs, or be required to pay additional milestones and royalties to Tekmira. In addition, while we cannot currently determine the amount of the royalty obligations we will be required to pay on sales of future products, if any, the amounts may be significant. The amount of our future royalty obligations will depend on the technology and intellectual property we use in products that we successfully develop and commercialize, if any. Therefore, even if we successfully develop and commercialize products, we may be unable to achieve or maintain profitability. "