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Immune Pharmaceuticals, Inc. Message Board

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  • OneBattery OneBattery Oct 3, 2007 5:23 PM Flag

    JACK! CALL MYRIAD! PAYMENTS ARE DUE!

    I found the agreement on Edgar, however they redacted certain parts that make it impossible to determine anything with certainty. Here is the relevant section of the agreement. Anyway, whatever the event is (if it is dosing as Jack said it was), then payment is due within 30 days of that.

    .....

    6.3 Milestone Payments. Within 30 days following the first occurrence of each of the events set forth below with respect to a Product, Myriad shall pay to Maxim the milestone payment set forth below (whether such milestone is achieved by Myriad, its Affiliate or any of their respective Sublicensees):
    Milestone Event Milestone Payment
    [***] [***]
    [***] [***]
    [***] [***]
    [***] [***]
    [***] [***]



    Each of the milestone payments described in this Section 6.3 shall be payable one (1) time for each Product containing a particular active ingredient, regardless of the number of indications for which such Product is developed or commercialized; provided, however, that if (a) a Product is abandoned during development after one (1) or more of the milestone payments under this Section 6.3 has been made (a "Dropped Product" ) and (b) another Product containing a different active ingredient is developed for substantially the same indication as a replacement for such Dropped Product, then only those milestone payments under this Section 6.3 that were not previously made with respect to such Dropped Product shall be payable with respect to the replacement Product. All payments made to Maxim pursuant to this Section 6.3 are non-refundable and, except as set forth in the preceding sentence, may not be credited against any other payments payable by Myriad to Maxim under this Agreement.

    My guess: they haven't doesed anyone yet or more than 30 days ago. Otherwise, it is breach of contract.

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    • The reason there has been no milestone payment is because MYGN is negotiating the purchase of EPCT.

      • 1 Reply to mullet_netter
      • That's a possibility. Lets see, at approx. 35 million out and a 700 million price tag that's $20. a share and $500,000. to me. So MYGN owes me approx 10,000 of their shares. I'll settle for that. Anyone think EPCT can get 700 million? If that were true the share price would already be $8. to $10. so I highly doubt that would take place.They would need a better cash position to get it. Their cash position hurts them at this point and EPCT needs confirmation that it even exsists by the Big Boy's. That hasn't happened yet, so get cracking Jack!

 
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