The CT order relates to terms contained in the Second Amended and Restated Marketing and Supply Agreement filed 11/7/13 and covers undisclosed amounts of milestone payments etc listed in that document. It has nothing to do with change in beneficial ownership. Same speculation occurs everytime a CT order is requested.
Example from the exhibit:
1.84. “ FTE Rate ” means the FTE personnel cost incurred by a Party in connection with the development of Products under Development Plans, which, as of the Effective Date, shall be at an annual rate of (a) US$[...***...] per FTE for director or equivalent level or above, (b) US$[...***...] per FTE for scientist or equivalent level or above, and (c) US$[...***...] per FTE below scientist or equivalent level. Commencing January 1, 2011, each above FTE Rate shall adjust annually, effective January 1 of the applicable Calendar Year, to reflect any year-to-year percentage increase or decrease (as the case may be) in the U.S. Bureau of Labor Statistics Employee Cost Index (“ ECI ”) (based on the change in the ECI from the most recent index available as of the Effective Date to the most recent index available as of the date of the calculation of such adjusted FTE Rate).
***Confidential Treatment Requested
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Filing Description Date Filed Sorted Descending Size View
CT ORDER Confidential Treatment Order Apr 3, 2014 7.2 KB View HTML View PDF Add to Briefcase
Why do they need to keep this out of the public eye for 10 years? That is when their patent protection is up.... Hmmmmm any thoughts out there from industry professionals, not traders or bashers.
Based on representations by Arena Pharm
aceuticals, Inc. that this information
qualifies as confidential commercial or fi
nancial information under the Freedom of
Information Act, 5 U.S.C. 552(b)(4), the Divi
sion of Corporation Finance has determined
not to publicly disclose it. Accordingl
y, excluded information from the following
exhibit(s) will not be released to the public for the time period(s) specified:
Exhibit 10.46 through November 7, 2023
I remember HGSI doing this, but after they had already broke out for a 400% gain at the time. They continued to move higher after that, since the thought was that GSK would be taking them over,
Definition of 'Confidential Treatment Order - CTO'
An order that provides confidential treatment for certain documents and information, that a company would otherwise have to file. A confidential treatment order (CTO) is issued by the Securities and Exchange Commission (SEC) and may only be in effect for a certain period of time, rather than indefinitely.