surf1944
12 years ago
8:05AM Somaxon Pharmaceuticals approves 1-for-8 reverse stock split and decrease in the number of authorized shares of its common stock to 25 mln shares (SOMX) 0.26 : Co announced that its Board of Directors approved a 1-for-8 reverse stock split of its common stock and a decrease in the number of authorized shares of its common stock from 100,000,000 to 25,000,000 shares. The reverse stock split and the decrease in the number of authorized shares of common stock were authorized by Somaxon's stockholders at a special meeting held on October 5, 2012.
Komando Robot
12 years ago
Somaxon Pharma Announces Settlement of Silenor Patent Litigation With Mylan (MYL) and PAR (PRX) (SOMX) 0.26 -0.01 : Co announced that it has entered into separate settlement arrangements with Mylan Inc. (MYL) and its subsidiary, Mylan Pharmaceuticals, Inc. and Par Pharmaceutical Companies, Inc. and its subsidiary Par Pharmaceutical, Inc. (PRX) to resolve pending patent litigation involving Silenor 3 mg and 6 mg tablets. The settlement agreement with Mylan grants Mylan the exclusive right to begin selling an authorized generic version of Silenor on January 1, 2020, or earlier under certain circumstances. Mylan's right to sell such an authorized generic product could extend for a period of as long as 360 days, and after such period Mylan will have the non-exclusive right to sell a generic version of Silenor under its Abbreviated New Drug Application. In connection with the settlement agreement, the parties also entered into a supply agreement under which Mylan has agreed to supply the company with commercial quantities of Silenor 3 mg and 6 mg tablets. The settlement agreement with Par grants Par the right to begin selling a generic version of Silenor 180 days after the earlier of the date that a third party's generic version of Silenor is first sold in the United States under a license from Somaxon or a final court decision that the asserted patents are not infringed, invalid or unenforceable, or earlier under certain circumstances. Each of the settlement agreements will become effective upon the entry by the U.S. District Court for the District of Delaware of an order dismissing the litigation with respect to Mylan or Par, as applicable.
10452km2
12 years ago
Wow huge news but yet so strange why a ton of insiders sold?
Insider Position Date Trades Shares Trade Price ($) Change (%) Details
EVNIN LUKE 10% Owner 2012-07-09 Sell 2,295,791 $0.3 -13.33 view
MPM BIOVENTURES III-QP L.P. 10% Owner 2012-07-09 Sell 2,295,791 $0.3 -13.33 view
EVNIN LUKE 10% Owner 2012-07-03 Sell 178,558 $0.29 -10.34 view
MPM BIOVENTURES III-QP L.P. 10% Owner 2012-07-02 Sell 178,558 $0.29 -10.34 view
MPM BIOVENTURES III-QP L.P. 10% Owner 2012-06-28 Sell 19,500 $0.29 -10.34 view
EVNIN LUKE 10% Owner 2012-06-28 Sell 19,500 $0.29 -10.34 view
EVNIN LUKE 10% Owner 2012-06-19 Sell 12,000 $0.29 -10.34 view
MPM BIOVENTURES III-QP L.P. 10% Owner 2012-06-19 Sell 12,000 $0.29 -10.34 view
EVNIN LUKE 10% Owner 2012-06-15 Sell 1,450 $0.29 -10.34 view
MPM BIOVENTURES III-QP L.P. 10% Owner 2012-06-15 Sell 1,450 $0.29 -10.34 view
surf1944
12 years ago
Somaxon and CJ CheilJedang Announce Silenor® Collaboration in South Korea
Business WirePress Release: Somaxon Pharmaceuticals, Inc. β Fri, Apr 27, 2012 8:00 AM EDT
Somaxon and CJ CheilJedang Announce Silenor® Collaboration in South KoreaView Photo
Somaxon and CJ CheilJedang Announce Silenor® Collaboration in South Korea
SAN DIEGO & SEOUL, South Korea--(BUSINESS WIRE)--
Somaxon Pharmaceuticals, Inc. (Nasdaq: SOMX - News) and CJ CheilJedang Corporation today announced that they have entered into an exclusive collaboration under which CJ CheilJedang will commercialize Silenor® (doxepin) for the treatment of insomnia in South Korea.
Under the terms of the agreements, Somaxon will receive an up-front payment of US$600,000. CJ CheilJedang will be responsible for regulatory submissions for Silenor and will have the exclusive right to commercialize Silenor in South Korea. Once Silenor is approved in South Korea, Somaxon will also be eligible to receive sales-based milestone payments as well as a royalty based on net sales of Silenor in South Korea. Somaxon will also supply CJ CheilJedangβs requirements for commercial quantities of Silenor in South Korea at a separate transfer price.
βThis transaction helps us further our goal of maximizing the value of Silenor for our stockholders by selectively licensing rights to the product outside of the U.S.,β said Richard W. Pascoe, Somaxonβs President and Chief Executive Officer. βCJ CheilJedang is a leading pharmaceutical company in South Korea with an impressive track record of achieving regulatory approval and effectively commercializing branded pharmaceutical products.β
βWe are pleased to partner with Somaxon to commercialize Silenor in South Korea,β said Seok-Hee Kang, Head of Pharmaceutical Business of CJ CheilJedang Corporation. βSilenor is an excellent fit with CJ CheilJedang's commercial capabilities and portfolio, and we believe that there is a significant unmet need for Silenor.β
About Silenor®
Silenor is a low-dose (3 mg and 6 mg) oral tablet formulation of doxepin, and is the first and only non-scheduled prescription sleep medication approved to treat insomnia characterized by difficulties with sleep maintenance. Sleep maintenance is defined as waking frequently during the night and/or waking too early and being unable to return to sleep. For more information, please visit www.silenor.com.
surf1944
12 years ago
18:05 EDT SOMX April 2nd
theflyonthewall.com: Somaxon to seek other third party pacts, Bloomberg says
Subscribe for More Information :theflyonthewall.com
18:04 EDT PG, SOMX
theflyonthewall.com: Somaxon: P&G no longer has rights to OTC product in pact, Bloomberg says
Subscribe for More Information :theflyonthewall.com
18:02 EDT PG, SOMX
theflyonthewall.com: Somaxon: P&G didn't negotiate to develop OTC Doxepin product, Bloomberg says