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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: ewolf who wrote (16591)	4/21/2005 7:55:22 PM
From: rkrw	Read Replies (1) \| Respond to of 52153

It was in the 10K 3/9: We and the FDA have agreed to present MT 100 data to an advisory committee of the FDA for consideration, with particular emphasis on the potential risk of tardive dyskinesia. The FDA has advised us that the meeting with the advisory committee, which we previously reported had been tentatively scheduled for May 2005, has been postponed due to FDA scheduling conflicts. We do not know when the meeting will be rescheduled; however, we have been informed by the FDA that the rescheduled meeting date will be available, in advance, when published in the Federal Register. ------------------------------------------------------------ When digging around I found this in an 8K... Item 1.01. Entry into a Material Definitive Agreement On January 3, 2005, pursuant to an incentive program approved by the Compensation Committee of the Board of Directors of POZEN Inc. (the “Company”), stock options were granted to all of the Company’s employees, including the Company’s executive officers, to purchase an aggregate of 506,772 shares of common stock. Each option will vest in full upon the later to occur of (i) January 3, 2007 or (ii) the receipt by the Company of an action letter from the U.S. Food and Drug Administration (FDA) indicating approval of the New Drug Application (NDA) for Trexima, the proposed brand name for the combination of GlaxoSmithKline’s sumatriptan and naproxen sodium in a single tablet being developed by the Company for the acute treatment of migraine pursuant to a development and commercialization agreement with GlaxoSmithKline; provided, however that 25% of each such option will be forfeited if receipt of the FDA approval letter for the Trexima NDA does not occur prior to June 30, 2007, and 100% of each such option will be forfeited if receipt of the FDA approval letter for the Trexima NDA does not occur on or before December 31, 2007. The options, which were granted under the Company’s Equity Compensation Plan, as amended and restated, have a ten-year term and an exercise price equal to the Nasdaq reported market closing price of the common stock on January 3, 2007, the date of grant. As a part of this Company-wide incentive program, options on the terms described above were granted to each of the following executive officers of the Company: Dr. John R. Plachetka, President and CEO, Dr. Marshall E. Reese, Executive Vice President Product Development, Dr. W. James Alexander, Senior Vice President Product Development, William L. Hodges, Senior Vice President Finance and Administration and CFO, Kristina M. Adomonis, Senior Vice President Business Development, and John E. Barnhardt, Vice President Finance and Administration. Options relating to a total of 290,088 shares of common stock were granted to the executive officers. The form of the nonqualified stock option award agreement for this incentive program is filed as Exhibit 10.1 hereto and is incorporated herein by reference.