Navigation Links
PharmAthene Provides Update on Litigation With SIGA Technologies

ANNAPOLIS, Md., Jan. 24, 2011 /PRNewswire/ -- PharmAthene, Inc. (NYSE Amex: PIP) announced today that the trial in the Delaware Court of Chancery, which commenced January 3, 2011, in its breach of contract action against SIGA Technologies concluded this past Friday, January 21, 2011. The Company anticipates that post trial briefs in the case and subsequent oral argument in front of the court will be complete by the end of April 2011.

Eric I. Richman, President and Chief Executive Officer of PharmAthene, commented "I am pleased with how our legal team presented our case and look forward to submitting our post-trial briefs and the court rendering its decision, which we anticipate will occur sometime in mid 2011.  

In December 2006, the Company filed a complaint against Siga in the Delaware Court of Chancery, alleging, among other things, that the Company has the right to license exclusively development and marketing rights for Siga's drug candidate, ST-246, pursuant to a merger agreement between the parties that was terminated in October 2006.  The complaint also alleges that Siga failed to negotiate in good faith the terms of such a license pursuant to the terminated merger agreement. Siga has counter sued claiming that PharmAthene breached its duty to engage in good faith negotiations for a license to ST-246 during the fall of 2006.

Statement on Cautionary Factors

Except for the historical information presented herein, matters discussed may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements preceded by, followed by, or that include the words "potential"; "believe"; "anticipate"; "intend"; "plan"; "expect"; "estimate"; "could"; "may"; "should"; "will"; "project"; "potential"; or similar statements are forward-looking statements. PharmAthene disclaims any intent or obligation to update these forward-looking statements other than as required by law.  Risks and uncertainties include risk associated with the reliability of the results of the studies relating to human safety and possible adverse effects resulting from the administration of the Company's product candidates, unexpected funding delays and/or reductions or elimination of U.S. government funding for one or more of the Company's development programs, the award of government contracts to our competitors, unforeseen safety issues, challenges related to the development, scale-up, technology transfer, and/or process validation of manufacturing processes for our product candidates, unexpected determinations that these product candidates prove not to be effective and/or capable of being marketed as products, as well as risks detailed from time to time in PharmAthene's Forms 10-K and 10-Q under the caption "Risk Factors" and in its other reports filed with the U.S. Securities and Exchange Commission (the "SEC").  In particular, there can be no assurance that the Company will prevail in its lawsuit against Siga, or that even if the court rules in the Company's favor, the court will award monetary damages or other remedies adequate to fully compensate the Company for its loses.

Copies of PharmAthene's public disclosure filings are available from its investor relations department and our website under the investor relations tab at

SOURCE PharmAthene, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. PharmAthene Presents New Anthrax Data at the 5th Annual PHEMCE Stakeholders Workshop and BARDA Industry Day
2. PharmAthene to Host Third Quarter 2010 Conference Call and Webcast on Thursday, November 11, 2010
3. PharmAthene Announces Closing of $15 Million Public Offering
4. PharmAthene Appoints Eric I. Richman President and Chief Executive Officer
5. PharmAthene Provides Update on NYSE Amex Listing Compliance Plan
6. PharmAthene Completes Previously Announced Registered Direct Offering
7. PharmAthene Presents New Data for Lyophilized rPA Anthrax Vaccine Showing Enhanced Immunogenicity
8. PharmAthene Develops Thermostable Lyophilized rPA Anthrax Vaccine Under a Challenge Grant From the National Institutes of Health
9. PharmAthene Presents rPA Anthrax Vaccine Data at the 2009 HHS PHEMCE Stakeholders Workshop
10. PharmAthene Presents Animal Model Data for Valortim(R) at the 2009 BARDA Industry Conference / PHEMCE Stakeholders Workshop
11. PharmAthene Submits Proposal to BARDA in Response to Broad Agency Announcement for Advanced Research and Development for Valortim(R)
Post Your Comments:
(Date:11/27/2015)... ) ... "2016 Global Tumor Marker Testing Market: Supplier ... Segment Forecasts, Innovative Technologies, Instrumentation Review, Competitive ... offering. --> ) has ... Global Tumor Marker Testing Market: Supplier Shares ...
(Date:11/26/2015)... 2015 Un nuevo enfoque combina ... el cáncer avanzado.   --> Un ... de Bremachlorin para el cáncer avanzado.   ... con la terapia fotodinámica de Bremachlorin para el cáncer ... --> Clinical Cancer Research . --> ...
(Date:11/26/2015)... , November 26, 2015 ... A new combination approach blends immunotherapy with Bremachlorin-photodynamic therapy ... new combination approach blends immunotherapy with Bremachlorin-photodynamic therapy for ... new combination approach blends immunotherapy with Bremachlorin-photodynamic therapy for ... has found that immunotherapy can be efficiently ...
Breaking Medicine Technology:
(Date:11/27/2015)... ... 28, 2015 , ... There is only one major question facing all law ... , This question has not been an easy question to answer. Especially when the ... the younger workforce don’t share the same discipline around working long hours. , ...
(Date:11/27/2015)... ... November 27, 2015 , ... The rapid speed at which ... age, more care is needed, especially with Alzheimer’s, dementia and other cognitive conditions ... overworked. The forgotten part of this equation: 80 percent of medical care occurs ...
(Date:11/27/2015)... ... November 27, 2015 , ... Lizzie’s Lice Pickers just announced ... offering customers 10% off of their purchase of lice treatment product. In addition, customers ... According to a company spokesperson. “Finding lice is a sure way to ruin the ...
(Date:11/27/2015)... ... November 27, 2015 , ... Consistent ... sharing, the 2016 Building Better Radiology Marketing Programs meeting will showcase ... Sunday, March 6, 2016, at Caesars Palace in Las Vegas with a pre-conference ...
(Date:11/27/2015)... ... November 27, 2015 , ... ... online platform for mental health and wellness consultation, has collaborated with a leading ... bridge the knowledge gap experienced by parents and bring advice from parenting experts ...
Breaking Medicine News(10 mins):