HomepageEquitiesUnited StatesNasdaqLigand Pharmaceuticals IncorporatedNewsSummary LGND US53220K5048
United States LIGAND PHARMACEUTICALS INCORPORATED (LGND) Add to my list
Report
Delayed Quote. Delayed Nasdaq - 01/14 04:00:00 pm
124.91 USD -0.34%
01/14 LIGAND PHARMACEUTICALS INC : Termination of a Material Definitive Agreement (form 8-K)
AQ
2021 Ligand's partner cstone pharmaceuticals receives approval in china for sugemalimab (cejemly) for the first-line treatment of advanced non-small cell lung cancer in combination with chemotherapy
AQ
2021 Ligand Pharmaceuticals' Partner Gets Approval for Lung Cancer Drug in China
MT
Summary Quotes Charts News Ratings Calendar Company Financials Consensus Revisions
Summary Most relevant All News Analyst Reco. Other languages Press Releases Official Publications Sector news
LIGAND PHARMACEUTICALS INC : Termination of a Material Definitive Agreement (form 8-K)
01/14/2022 | 04:25pm EST
share with twitter
share with LinkedIn
share with facebook
Item 1.02 Termination of a Material Definitive Agreement
As previously disclosed, on September 30, 2020, Ligand Pharmaceuticals Incorporated (the "Company") and American Stock Transfer & Trust Company, LLC ("AST") entered into a contingent value rights agreement (the "CVR Agreement") in connection with the Company's acquisition of Pfenex, Inc ("Pfenex"). Pursuant to the terms of the CVR Agreement, former equityholders of Pfenex received one non-transferrable contractual right entitling such holder to receive an amount in cash in the event that Pfenex's teriparatide injection product received notice from the U.S. Food and Drug Administration that such product is therapeutically equivalent with respect to FORTEO® (teriparatide injection) on or before December 31, 2021 (the "Expiration Date"). The FDA did not provide notice of such event prior to the Expiration Date and as a result, the CVRs expired without payment.
On January 14, 2022, the Company delivered written notice to AST to terminate the CVR Agreement, effective immediately. A copy of the CVR Agreement was filed as Exhibit 2.5 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2020, filed with the Securities and Exchange Commission on November 6, 2020. The description of the CVR Agreement does not purport to be complete and is qualified in its entirety by the full text of the CVR Agreement and is incorporated herein by reference.
