PharmAthene, Inc. (NYSE MKT: PIP), a biodefense company developing medical countermeasures against anthrax, today announced that it has received a $20 million payment from SIGA Technologies, Inc. to extend by 90 days, until October 19, 2016, the date by which SIGA must satisfy the PharmAthene judgment. The payment, made pursuant to the SIGA Bankruptcy Reorganization Plan approved by U.S. Bankruptcy Court for the Southern District of New York effective April 12, 2016, is creditable against final satisfaction of the judgment in favor of PharmAthene of approximately $205 million plus interest and is not refundable.
About PharmAthene
PharmAthene is a biodefense company engaged in the development of next generation medical countermeasures against biological threats. The Company's development portfolio includes next generation Anthrax vaccines that are intended to improve protection while having favorable dosage and storage requirements compared to other Anthrax vaccines.
