SIGA Terminates Merger Agreement with PharmAthene, Inc.
Wednesday October 4, 5:10 pm ET
NEW YORK--(BUSINESS WIRE)--SIGA Technologies, Inc. (NASDAQ: SIGA - News) disclosed today that it had terminated its Agreement and Plan of Merger with PharmAthene, Inc., pursuant to the terms of that agreement.
[PharmAthene is Medarex' partner in the anthrax project - MDX-1303/Valortim]
In reaching its decision, the SIGA Board of Directors considered many factors, including recent positive scientific data and the receipt of approximately $27 million in grants for its smallpox and arenavirus programs over the last several months, which amount includes a grant of $16.5 million from the National Institutes of Health also announced today.
Donald Drapkin, Chairman of the Board of SIGA, commented, "SIGA is excited about its future and committed to the development and successful completion of its lead product candidate, SIGA-246, a smallpox antiviral treatment, as well as its other anti-viral and anti-infective programs." |
