Kitov Pharmaceuticals Hldgs L Sponsored ADR (KTOV)

[scottsmith]

You can see the complaint on rosenlegal.com.

As far as the DMC goes, I was told by Waymack that it was unnecessary for FDA approval and had nothing to do with the SPA. As far as I know, the SPA protocol did not call for an external data monitoring committee to determine if more participants were necessary. I was told that if they had concluded more were necessary, it would have required major protocol revisions with the FDA and other organizations involved in oversight.

But again, the SPA set-up the protocol and the number of participants was compliant with that.

What I can tell you, is that DMC's decision triggered a milestone payment of shares.