PANACOS PHARMACEUTICALS, INC. Financials

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PANACOS PHARMACEUTICALS, INC. Files SEC form 8-K, Termination of a Material Definitive Agreement

Show all filings for PANACOS PHARMACEUTICALS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for PANACOS PHARMACEUTICALS, INC. 12-Mar-2009Termination of a Material Definitive Agreement Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for ...
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PANACOS PHARMACEUTICALS, INC. Files SEC form 8-K, Termination of a Material Definitive Agreement

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PANACOS PHARMACEUTICALS, INC. Files SEC form 8-K, Notice of Delisting or Failure to Satisfy a Continued Listing Rule

ITEM 3.01 NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD; TRANSFER OF LISTING. (a), (b) and (c) Not applicable. (d) On February 26, 2009, the Board of Directors of the Company unanimously voted to voluntarily delist its common stock, par value $0.01 per share (the "Common Stock"), from trading on The NASDAQ Capital Market and to voluntarily terminate the registration of its Common Stock under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company has notified The NASDAQ Stock Market LLC (the "NASDAQ") of its intent to voluntarily delist its Common Stock from trading on The NASDAQ Capital Market. The Company has determined that it is necessary to take these steps in order to preserve the Company's limited remaining financial resources for the operation of the Company's business. As previously announced, the Company is currently not in compliance with certain NASDAQ continued listing standards. The Company is not in compliance with the $1.00 per share minimum bid price requirement set forth in NASDAQ Marketplace Rule 4310(c)(4). The Company anticipates that it will file with the Securities and Exchange Commission (the "SEC") a Form 25 relating to the delisting of its Common Stock from The NASDAQ Capital Market on or about March 9, 2009, and that the delisting will be effective ten days thereafter. Accordingly, the Company anticipates that the last day of trading of its securities on The NASDAQ Capital Market will be on or about March 18, 2009. Following the delisting, the Company plans to file a Form 15 to deregister its Common Stock under the Exchange Act. Upon the filing of the Form 15, the Company's obligation to file certain reports with the SEC, including Forms 10-K, 10-Q and 8-K, will immediately be suspended. The Company expects that the deregistration will become effective 90 days after the date of filing of the Form 15 with the SEC. The Company anticipates that...
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PANACOS PHARMACEUTICALS, INC. Files SEC form 8-K, Financial Statements and Exhibits

Show all filings for PANACOS PHARMACEUTICALS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for PANACOS PHARMACEUTICALS, INC. 24-Feb-2009Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informationa...
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PANACOS PHARMACEUTICALS, INC. Files SEC form 8-K, Financial Statements and Exhibits

Show all filings for PANACOS PHARMACEUTICALS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for PANACOS PHARMACEUTICALS, INC. 12-Feb-2009Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational...
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For Myriad Genetics, the Splice Is Right

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PANACOS PHARMACEUTICALS, INC. Files SEC form 8-K, Entry into a Material Definitive Agreement, Termination of a Materi

Item 1.01 Entry Into a Material Definitive Agreement. On January 20, 2009, Panacos Pharmaceuticals, Inc. ("Panacos" or the "Company"), entered into an asset purchase agreement (the "Asset Purchase Agreement") with Myriad Pharmaceuticals, Inc. ("Myriad") providing for, and consummated, the sale to Myriad of certain assets and rights owned by the Company related to bevirimat. Among the assets and rights that Myriad acquired pursuant to the Asset Purchase Agreement ("Acquired Assets") are the Company's ownership interest in bevirimat-related patents (subject to a limited license back described below), bevirimat product inventory, rights to the bevirimat investigational new drug application with the United States Food and Drug Administration, other regulatory filings, correspondence, information, data, results and materials related to bevirimat, and rights under various bevirimat-related contracts that have been assigned to Myriad ("Assigned Contracts"). Myriad assumed all liabilities of Panacos under the Assigned Contracts that become due after the closing and all liabilities occurring out of Myriad's post-closing activities related to the Acquired Assets. All liabilities and obligations not expressly assumed by Myriad remain with Panacos. The Asset Purchase Agreement contains customary representations and warranties, covenants and indemnities made by the parties as set forth therein. The purchase price for the Acquired Assets is $7,000,000, of which approximately $2,167,000 was paid at closing directly to the Company's vendors to discharge certain outstanding invoices previously issued under Assigned Contracts, and of which a net amount (after giving effect to prepayments) of approximately $753,000 will be paid by Myriad directly to vendors for work performed under Assigned Contracts through, but not invoiced as of, the closing. In connection with the Asset Purchase Agreement, Panacos has entered into a Patent License Agr...
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Biotech Stock Mailbag: Panacos

Stock quotes in this article: PANC , CTIC , SQNM , ...
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Myriad Pharmaceuticals Acquires Novel HIV Drug, Bevirimat

SALT LAKE CITY, UT--(MARKET WIRE)--Jan 21, 2009 -- Myriad Pharmaceuticals, Inc. today announced that it has acquired all rights to bevirimat from Panacos Pharmaceuticals, Inc. (NasdaqCM:PANC - News) for an upfront payment of $7M. The upfront payment represents the total payment for bevirimat and will be expensed by Myriad Genetics, Inc. (NasdaqGS:MYGN - News), the parent company of Myriad Pharmaceuticals, during its third fiscal quarter ending March 31, 2009. Myriad Pharmaceuticals has no future milestone or royalty obligations to Panacos. The assets include all patents and patent applications related to the compound, all product inventories, ownership of all clinical data and all rights to regulatory filings. Myriad will assume control of all clinical and commercial development going forward."Based on the progress that Panacos has made with bevirimat and the results to date, Myriad Pharmaceuticals believes that bevirimat has great potential for the treatment of patients infected with HIV," said Adrian Hobden Ph.D., President of Myriad Pharmaceuticals, Inc. "We will work diligently to advance this compound through clinical development so that it can become a valuable addition to the drugs currently available to treat ...
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