UPDATE: Avago Tech (AVGO) Active Following Patent Case Ruling Apr 17, 2014 05:14PM

(Updated - April 17, 2014 5:14 PM EDT)

Avago Tech (NASDAQ: AVGO) stock was active following a win in a patent case vs Mellanox Technologies, Ltd. (NASDAQ: MLNX). Bloomberg reported Mellanox and its IPtronics violated an Avago patent. The report cited a notice posted by the U.S. International Trade Commission.


UPDATE: Avago Tech (AVGO) Active Following Patent Case Ruling Apr 17, 2014 05:14PM

(Updated - April 17, 2014 5:14 PM EDT)

Avago Tech (NASDAQ: AVGO) stock was active following a win in a patent case vs Mellanox Technologies, Ltd. (NASDAQ: MLNX). Bloomberg reported Mellanox and its IPtronics violated an Avago patent. The report cited a notice posted by the U.S. International Trade Commission.


Spectrum Pharmaceuticals (SPPI) Appointed Joseph Turgeon as President and COO Apr 17, 2014 05:07PM

Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) appointed Joseph Turgeon, age 56, as its President and Chief Operating Officer. Mr. Turgeon will have global responsibility for leading Commercial Operations, Medical and Clinical Development and Pharmaceutical Operations. In this capacity, Mr. Turgeon will report directly to Dr. Rajesh C. Shrotriya, the Chief Executive Officer and Chairman of the Board of Directors of the Company.

Mr. Turgeon has more than thirty years of experience in the bio-pharmaceutical industry. He has served as the Company’s Senior Vice President and Chief Commercial Officer since October 2012. Prior to joining the Company, Mr. Turgeon spent twenty-two years at Amgen Inc. as Vice President, Sales where he built and led the sales organization across multiple areas, including oncology, inflammation and bone health. Mr. Turgeon was responsible for launching most of the drugs and their dramatic growth at Amgen. At the Company, he has built a world class sales organization that has increased efficiency and visibility. He was also instrumental in the launch of Marqibo® last year. Mr. Turgeon holds a B.S. from Jacksonville University where he studied microbiology and economics.

In connection with his new position, Mr. Turgeon will receive an annual base salary of $550,000 and will be eligible for a bonus, including cash and equity depending on the achievement of certain Company and individual performance. In addition, Mr. Turgeon is being granted 120,000 shares of restricted stock pursuant to the Company’s 2009 Incentive Award Plan. The restricted stock will vest as to 25% of the shares on the first anniversary of the date of grant, and the balance of the shares will vest in three equal installments on each anniversary of the date of grant assuming Mr. Turgeon continues to provide services to the Company.

On April 17, 2014, Ken Keller resigned from his position as Executive Vice President and Chief Operating Officer of the Company in order to assume the role of Chief Executive Officer of an organization on the east coast. Mr. Keller will continue to be employed by the Company through April 28, 2014 in order to assist with the transition. Mr. Keller’s resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.


Amkor Technology (AMKR) Issues Equity in $56.4M Convertible Notes Conversion Apr 17, 2014 05:01PM

On April 15 and 16, 2014, Amkor Technology, Inc. (Nasdaq: AMKR) issued 7,373,120 and 11,258,057 shares of common stock, respectively, in connection with the conversion of $56,350,000 aggregate principal amount of Amkor’s 6.00% Convertible Senior Subordinated Notes due April 15, 2014 (the “Notes”), which Notes were surrendered for conversion pursuant to the terms of the indenture governing the Notes by the close of business on April 14, 2014 (the conversion election deadline). The conversion rate provided under the terms of the Notes was 330.6332 shares of common stock per $1,000 principal amount of Notes, equivalent to a conversion price of approximately $3.02 per share of common stock. The issuance of common stock was made pursuant to the exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), provided by Section 3(a)(9) of the Securities Act. In connection with the conversion, Amkor made an aggregate cash payment to the converting holders in the amount of $1,690,500 in accrued and unpaid interest with respect to the Notes being converted.


Catalyst Pharma (CPRX), BioMarin (BMRN) Enter Amended Licensing Agreement Apr 17, 2014 05:00PM

On April 15, 2014, effective as of April 8, 2014, Catalyst Pharmaceutical Partners (Nasdaq: CPRX) and BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) entered into Amendment No. 1 to License Agreement (“the Amendment”), amending in certain respects the License Agreement, dated October 26, 2012 (the “License Agreement”), between the Company and BioMarin.

The Company intends to submit a FOIA Confidential Treatment Request to the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended, requesting that it be permitted to redact certain portions of the Amendment. The omitted material will be included in the request for confidential treatment.


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