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Category Archives: Global News Feed
Journey Medical Corporation to Announce Year End 2023 Financial Results on March 21, 2024
Company to host conference call to discuss financial results and provide a corporate update on March 21, 2024 at 4:30 p.m. ET Company to host conference call to discuss financial results and provide a corporate update on March 21, 2024 at 4:30 p.m. ET
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Journey Medical Corporation to Announce Year End 2023 Financial Results on March 21, 2024
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Eupraxia Pharmaceuticals Announces Closing of Overnight Marketed Offering for Gross Proceeds of C$33.9 Million
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Eupraxia Pharmaceuticals Announces Closing of Overnight Marketed Offering for Gross Proceeds of C$33.9 Million
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AIM ImmunoTech to Participate in the Virtual Investor Lunch Break: The AIM Opportunity
Live video webcast with Tom Equels, Chief Executive Officer of AIM ImmunoTech, on Wednesday, March 20th at 12:00 PM ET Live video webcast with Tom Equels, Chief Executive Officer of AIM ImmunoTech, on Wednesday, March 20th at 12:00 PM ET
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Scilex Holding Company’s Wholly Owned Subsidiary, Scilex Pharmaceuticals Inc., Entered into a Definitive Mutual Release and Settlement Agreement…
PALO ALTO, Calif., March 15, 2024 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex” or “Company”), an innovative revenue generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, today announced that the U.S. Bankruptcy Court for the Southern District of Texas (the “Court”), in connection with the bankruptcy proceedings of Sorrento Therapeutics, Inc. (“Sorrento”), Scilex’s former controlling stockholder, approved the settlement and mutual release agreement (the “Definitive Settlement Agreement”) between Scilex’s wholly owned subsidiary, Scilex Pharmaceuticals Inc. (“Scilex Pharma”), and Sorrento, on the one hand, and Virpax Pharmaceuticals, Inc. (“Virpax”), on the other hand. The Definitive Settlement Agreement relates to the term sheet previously announced by Scilex on February 26, 2024, regarding a mutual release and settlement agreement between Scilex Pharma, Sorrento and Virpax in respect of the action (the “Action”) filed by Scilex Pharma and Sorrento (together, the “Plaintiffs”) against Anthony Mack, former President of Scilex Pharma and Virpax, a company founded and then headed by Mr. Mack. Pursuant to the Definitive Settlement Agreement, Virpax is obligated to make the following payments to the Company: (i) $3.5 million by March 18, 2024 (the “Initial Payment”); (ii) $2.5 million by July 1, 2024 (the “Second Payment”); and (iii) to the extent any of the following drug candidates are ever sold, royalty payments of (a) 6% of annual Net Sales (as defined in the Definitive Settlement Agreement) of Epoladerm; (b) 6% of annual Net Sales of Probudur; and (c) 6% of annual Net Sales of Envelta. Such royalty payments will end upon the later of (i) expiration of the last-to-expire valid patent claim of Virpax or its licensor covering the manufacture, use or sale of such product in such country; and (ii) expiration of any period of regulatory exclusivity for such product in such country.
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Scilex Holding Company’s Wholly Owned Subsidiary, Scilex Pharmaceuticals Inc., Entered into a Definitive Mutual Release and Settlement Agreement...
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