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Biotech / Medical : ARADIGM CORP. ARDM -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (79)	9/28/2000 1:12:31 PM
From: tuck	Respond to of 255

Rick, Parking news for the moment, and juxtaposing it with the relevant collaborative agreement to provide an idea of possible milestone payment related to this (apologies in advance if the pasted section doesn't format well): biz.yahoo.com From the last 10-K: >>In September 1997, the Company executed a development and commercialization agreement with SmithKline Beecham covering use of the AERx Pain Management System for the delivery of narcotic analgesics. The Company and SmithKline Beecham will collaborate on the development of the products within this field. Under the terms of the agreement, SmithKline Beecham has been granted exclusive worldwide sales and marketing rights to the AERx Pain Management System for use with such analgesics, and Aradigm retains all manufacturing rights. If this system receives regulatory approval, Aradigm intends to sell devices and drug packets to SmithKline Beecham and will receive royalties on developed product sold by SmithKline Beecham. At December 31, 1999, the Company had received from SmithKline Beecham approximately $19 million in milestone and product development payments and $5 million from the purchase of shares of Aradigm common stock at a 25% premium to the market price. As of December 31, 1999, pursuant to the agreement, Aradigm is entitled to approximately $4.4 million in additional product development payments, and could receive $14 million in additional milestone payments and additional future product development payments, if and when the first product from the collaboration is commercialized. The Company also has the rights to receive an additional $5 million equity investment from SmithKline Beecham. Additional milestone and product development payments will be paid if Aradigm and SmithKline Beecham decide to jointly develop additional AERx systems which incorporate other opiates or opioids. Through December 31, 1999, the Company has recognized total contract revenue of $18.8 million ($5.2 million, $11.0 million and $2.6 million in 1999, 1998 and 1997, respectively).<< Perhaps this is what's behind the spike. Buy the rumor sell the news, it would appear. Cheers, Tuck

To: scaram(o)uche who wrote (79)	1/16/2001 12:24:50 PM
From: tuck	Read Replies (1) \| Respond to of 255

biz.yahoo.com >>Aradigm Raises $5 Million Through Put Option in Original Agreement With GlaxoSmithKline HAYWARD, Calif., Jan. 16 /PRNewswire/ -- Aradigm Corporation (Nasdaq: ARDM - news) announced today that the company has raised $5 million through the sale of 339,961 common shares at an average price of $14.71 per share to GlaxoSmithKline. The sale was made pursuant to the exercise of a put option by Aradigm under the terms of its collaboration agreement with GlaxoSmithKline. Under the collaboration, Aradigm is currently conducting a Phase 2b clinical trial for the development of the AERx (R) Pain Management System for the pulmonary delivery of morphine to provide immediate pain relief to patients in the home environment." snip Cheers, Tuck