financetom
Forex World Market Business Cryptocurrency Commodities MAP
financetom
Business
financetom
/
Business
/
Scilex Settles Claims in Case Against Virpax for $6 Million, 6% Royalties From Three Drugs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Scilex Settles Claims in Case Against Virpax for $6 Million, 6% Royalties From Three Drugs
Mar 15, 2024 7:34 AM

10:07 AM EDT, 03/15/2024 (MT Newswires) -- Scilex ( SCLX ) said Friday that the US Bankruptcy Court for the Southern District of Texas approved a settlement and mutual release agreement with Virpax Pharmaceuticals

The pain-relief-focused pharmaceutical company said the agreement relates to a case filed by Scilex ( SCLX ) and another firm, Sorrento Therapeutics, against Anthony Mack, former president of Scilex ( SCLX ) and Virpax, a company he founded and headed.

Under the terms of the settlement, Virpax must pay Scilex ( SCLX ) $6 million in two installments by July 1 as well as royalties of 6% per year on net sales of the drugs Epoladerm, Probudur, and Envelta, Scilex ( SCLX ) said.

Scilex ( SCLX ) said its release of claims relates to claims against Virpax only and does not affect other claims against Mack.

Virpax did not immediately reply to MT Newswires' request for comment.

Scilex ( SCLX ) shares were nearly 3% higher in recent trading.

Price: 1.43, Change: +0.04, Percent Change: +2.88

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
goeasy Upsizes, Prices Offering of Senior Unsecured Notes
goeasy Upsizes, Prices Offering of Senior Unsecured Notes
Oct 22, 2024
06:24 AM EDT, 10/22/2024 (MT Newswires) -- goeasy (GSY.TO), a Canadian consumer lender, late on Monday said it has priced US$400 million of 6.875% senior unsecured notes due 2030, up from US$350 million previously, and C$150 million of 6% senior unsecured notes due 2030. The company also expects to enter into a currency swap agreement to fix the foreign currency...
 US FDA declines to approve Camurus' rare hormone disorder drug
US FDA declines to approve Camurus' rare hormone disorder drug
Oct 22, 2024
Oct 22 (Reuters) - The U.S. Food and Drug Administration has declined to approve Camurus' drug for the treatment of a rare hormonal disorder due to deficiencies at a third-party manufacturing facility, the Swedish drugmaker said late Monday. WHY IT'S IMPORTANT The FDA's decision could delay the approval and subsequent launch of the drug, CAM2029, meant to treat patients with...
 --Medpace Guides For 2024 GAAP EPS of $11.71-$12.09 on Revenue of $2.09-$2.13 Billion, vs CIQ Analyst Consensus of $11.56/Share on Revenue of $2.14 Billion
--Medpace Guides For 2024 GAAP EPS of $11.71-$12.09 on Revenue of $2.09-$2.13 Billion, vs CIQ Analyst Consensus of $11.56/Share on Revenue of $2.14 Billion
Oct 22, 2024
04:17 PM EDT, 10/21/2024 (MT Newswires) -- Price: 326.64, Change: -26.28, Percent Change: -7.45 ...
 InterContinental Hotels Group's Q3 Global Revenue per Available Room Increases
InterContinental Hotels Group's Q3 Global Revenue per Available Room Increases
Oct 22, 2024
06:27 AM EDT, 10/22/2024 (MT Newswires) -- InterContinental Hotels Group ( IHG ) reported Tuesday a 1.5% increase in Q3 global revenue per available room compared with the same period last year. The Americas saw a 1.7% sales increase, while the EMEA region increased by 4.9%, driven by continued growth in the US. Greater China reported a 10.3% decline due...
About
Terms and Conditions Privacy policy Cookie Settings Contact Us
Services
Login register
financetom Market Personal Finance Business Economy Cryptocurrency MAP
Links
zpostcode Recruit weather mreligion Yellowpages sport constellation shopping name game directory literature Word tour furnish Lottery tftnews lyrics News digital car dir Edu Finance
Copyright 2023-2025 - www.financetom.com All Rights Reserved