PharmAthene (PIP) Says SIGA Smallpox Therapeutic Ruling Upheld

PharmAthene, Inc. (AMEX: PIP) reports that the Delaware Court of Chancery has denied SIGA Technologies' (Nasdaq: SIGA) motion for reargument filed on October 4, 2011, upholding the Court's original September 22, 2011 decision awarding PharmAthene 50 percent of the net profits over ten years from all sales of SIGA's smallpox antiviral therapeutic, ST-246, and related products, after SIGA receives the first $40 million in net profits. In addition, under the original September 22nd Opinion, the Court awarded PharmAthene one-third of its reasonable attorney's fees and expert witness costs.

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