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Biotech / Medical : Neurocrine Biosciences (NBIX) -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (1178)	11/7/2003 5:38:27 PM
From: Icebrg	Read Replies (2) \| Respond to of 1834

ITEM 1. LEGAL PROCEEDINGS [From the 10Q filed today]. The Salk Institute has notified us that it is the Salk’s belief that we have not complied with certain milestone payments for our CRF antagonists under the 1993 license agreement between Salk and us. As a result, we and Salk have entered into arbitration. We believe that we have complied with the terms of the license agreement and that no additional milestone payments are owed to Salk. We intend to vigorously defend our interests in this matter. We expect that the resolution of this matter will not have a material adverse effect on our business, financial condition, or results of operations. However, due to the uncertainties inherent in these types of matters, no assurance can be given as to the outcome of these arbitration proceedings. Other than the above, we are not currently a party to any material legal proceedings. sec.gov