Looks like NVS had Z by the short hairs :Section 3. Payment for Renewal Term Activities .
In lieu of any FTE payments contemplated by Section 5.1(b) or 5.1(c) of the Research Agreement and the payments provided under Amendment No. 1, and with respect to Third Renewal Term activities only, Novartis will pay to Zalicus USD$7,500 per cell line that is accepted by Novartis pursuant to the Research Plan Supplement, up to a maximum of USD$3,000,000. Zalicus will submit an Invoice to Novartis for these amounts up to six times in the Third Renewal Term (it being anticipated that one Invoice will be issued approximately every three months during the Third Renewal Term). Novartis will pay each such undisputed Invoice within 60 calendar days after receipt.
Good news -- in section 4, Z was able to protect all agreements to date of the renewal.
Hey Slug! havent had time to read through the filings but thats how it sounds... wonder what the underlying story is behind that .. i guess the good news is we get one more year, was hoping for a better uptick today, seems like the market is waiting for the ions