Cardiome Pharma (CRME +41%) leaps higher out of an earlier trading halt after the company says...

|About: Cardiome Pharma Corporation (CRME)|By:, SA News Editor

Cardiome Pharma (CRME +41%) leaps higher out of an earlier trading halt after the company says it's reached a deal with Merck (MRK +0.6%) to settle its debt obligations stemming from it's collaboration on vernakalant - a treatment for atrial fibrillation - which it signed in April 2009. Under the terms of the settlement, CRME will pay MRK $20M to settle its outstanding debt of $50M, and MRK will terminate a $100M credit facility it had made available to CRME.