>>WALTHAM, Mass.--(BUSINESS WIRE)--Aug. 20, 2002--PRAECIS PHARMACEUTICALS INCORPORATED (NASDAQ: PRCS - News) announced today that it has concluded an agreement with Amgen Inc., whereby PRAECIS will pay Amgen $13 million in final settlement of all amounts payable under their collaboration agreement which was terminated by Amgen, effective December 17, 2001. PRAECIS will not incur any additional charges as a result of this settlement and, accordingly, will adjust the previously disclosed higher estimates of its potential liability under the collaboration agreement.<<
Can't recall what the previous estimates were, but I doubt the difference is significant against the backdrop of Plenaxis' long odds of success and the money that will be spent by Praecis trying to beat those odds. Might be worth a trade, might not.
Cheers, Tuck |
