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Old 05-06-2009, 12:59 PM   Nav to Top  #11
JonW
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Devil Haha!! Cool

Profit taking and now we have to settle for only a 125% rise!!!!

XDXDXDHappy Days!! XDXDXD

JonW
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Old 05-06-2009, 01:03 PM   Nav to Top  #12
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im in at 0.4 actually 0.38 average - hell thats like 300 - 400%

!!!!!!!!!!
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Old 05-06-2009, 01:08 PM   Nav to Top  #13
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Yeah, I was meaning just today!!


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Old 05-07-2009, 07:09 AM   Nav to Top  #14
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Guys, don't forget one thing: Novartis has the right to buy Pixantrone for 7M USD + royalties (max. 132M).
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Old 05-07-2009, 07:18 AM   Nav to Top  #15
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Question

Hey Poldermol,

Where's your link for that?

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Old 05-07-2009, 07:21 AM   Nav to Top  #16
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Hang on, I'll try to find it back. It was in a 2006 SEC filing, so everyone has forgotten about it.


Give me a second!

Last edited by Poldermol; 05-07-2009 at 07:23 AM..
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Old 05-07-2009, 07:23 AM   Nav to Top  #17
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Newspaper Article:

Cell Therapeutics signs deal with Novartis - Puget Sound Business Journal (Seattle):


If Novartis picks up its pixantrone option, it would pay Cell Therapeutics a $7.5 million fee and up to $104 million in registration and sales-related milestones.


Edit: so it's even less than I thought
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Old 05-07-2009, 07:26 AM   Nav to Top  #18
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This should be the SEC filing:

EDGAR Pro


Also pursuant to the License Agreement, the Corporation has granted Novartis an exclusive option to enter into an exclusive worldwide license to develop and commercialize pixantrone (the “Pixantrone Option”) . Novartis may exercise the Pixantrone Option at any time until the later to occur of (i) three hundred sixty-five (365) days after the database on the Corporation’s ongoing phase III study of pixantrone is locked or (ii) thirty (30) days after the expiration of the Xyotax Participation Period. If Novartis exercises the Pixantrone Option, then the Corporation and Novartis are obligated to use commercially reasonable efforts to negotiate in good faith the details of a definitive agreement, based on certain agreed terms. These agreed financial terms vary depending on whether Novartis has also made the Xyotax Election. In general, if Novartis has decided not to make the Xyotax Election, then the Corporation would be eligible to receive (i) a customary royalty on pixantrone worldwide sales and (ii) up to $71 million of milestone payments (if all milestones were achieved). If Novartis decides to exercise the Pixantrone Option and at such time has exercised, or has not given up, its rights with respect to Xyotax, then the Corporation would be eligible to receive (i) up to $104 million of milestone payments if all milestones were achieved, (ii) a $7.5 million license fee, (iii) a customary royalty on pixantrone worldwide net sales and (iv) expense reimbursement and future expense sharing on terms similar to those related to the Xyotax Election. Milestone payments under the Pixantrone Option are also based on a mix of targets regarding sales levels and regulatory approvals.
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Old 05-07-2009, 07:46 AM   Nav to Top  #19
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Question Novartis/Pixantrone link

Originally Posted by Poldermol View Post
Novartis may exercise the Pixantrone Option at any time until the later to occur of (i) three hundred sixty-five (365) days after the database on the Corporation’s ongoing phase III study of pixantrone is locked or (ii) thirty (30) days after the expiration of the Xyotax Participation Period.
Thanks Poldermol,

Good links.

Presume there is no subsequent filing that supercedes this?

Do you happen to know what the dates i) and ii) above are? i.e. I presume the 365 will run out before FDA Approval? I could look but you seem to have all the info to hand!

Cheers,
JonW
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Old 05-07-2009, 08:07 AM   Nav to Top  #20
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As the text declares the LATER of both dates, and knowing the Xyotax deal hasn't come to an end yet, the deadline is still running.
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