ANI Pharmaceuticals (ANIP)

[silvr_surfr]

Looks like all clear for Yescarta/Tecartus royalty payments. It has been quite the battle.

Kite first sued Cabaret Biotech and then dropped the case. Cabaret Biotech countersued Kite and it was dismissed last December. I am not sure whether our rights were ever in jeopardy, but it is good that this is out of the way and there is some sort of agreement between the two entities. The most important thing here is that we no longer have to worry about having to possibly pay the accrued royalties back.

Cabaret Biotech vs Kite Case Dismissed

Cabaret Biotech sued ANIP and lost the case last year so they were obligated to pass through the royalty payments. Then, ANIP sued Cabaret Biotech since they were trying to tax the royalties that were passing through them to us and the University of California. They have agreed to settle so it must mean there will be no taxes and at a minimum we should get our lawyer's fees paid for.

Cabaret Biotech Agrees to Settle ANIP Suit