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Cyclacel Pharmaceuticals, Inc. (CYCC) Message Board

  • gold_hunter99 gold_hunter99 Apr 4, 2013 3:49 PM Flag

    $5.5m settlement is a smart move

    The patents were declared invalid by the European Patent Office in 2010, and Cyclacel got nothing there.

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    • I agree. Although I wanted to believe a better outcome for the shareholders, Spiro made the right decision. In his position he could not 'bet the farm' - ever increasing legal costs and an uncertain outcome.- given the financial position of the company. Nor could he afford the distraction of litigation with his small staff. Look at the facts: he got away as the owner of the patents, he got 5.5 million ( minus legal costs ) in cash and he made friends with Celgene. Probably a wise decision. We will see in the week to come. The sell off today is an overreaction.

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