VANCOUVER, Washington, July 09, 2024 (GLOBE NEWSWI
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Posted On: 12/17/2024 12:36:24 PM
Re: Nt2innvovate #148744
VANCOUVER, Washington, July 09, 2024 (GLOBE NEWSWIRE)
The material terms of the settlement are as follows: (i) Amarex will pay $12,000,000 to CytoDyn, $10,000,000 was paid upon execution of the agreement and the remainder to be paid within the next 12 months; (ii) the surety bond, valued at $6,500,000, will be released to CytoDyn in full; (iii) all sums Amarex had claimed as due and payable, aggregating to approximately $14,000,000, will be eliminated, with no payment required from CytoDyn; and (iv) a mutual release of claims, resolving all legal claims between the parties."
I believe the second payment is due in 2025. It's good to be solvent.
We asked for updates, and we got updates. The strategy seems clear. Build the foundation with resources, staff, and FDA guidance. Fund the best, most credible trials possible. Gather the results and let the pieces fall where they may.
The material terms of the settlement are as follows: (i) Amarex will pay $12,000,000 to CytoDyn, $10,000,000 was paid upon execution of the agreement and the remainder to be paid within the next 12 months; (ii) the surety bond, valued at $6,500,000, will be released to CytoDyn in full; (iii) all sums Amarex had claimed as due and payable, aggregating to approximately $14,000,000, will be eliminated, with no payment required from CytoDyn; and (iv) a mutual release of claims, resolving all legal claims between the parties."
I believe the second payment is due in 2025. It's good to be solvent.
We asked for updates, and we got updates. The strategy seems clear. Build the foundation with resources, staff, and FDA guidance. Fund the best, most credible trials possible. Gather the results and let the pieces fall where they may.
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