Oct. 14, 2013, 6:30 AM
- The acquisition is expected to significantly accelerate Aratana's (PETX) pathway toward becoming a commercial-stage pet therapeutics company.
- Aratana will pay to Vet $30M in cash, issue 625K shares of common stock, and issue a promissory note for $3M with a maturity date of December 31, 2014. Aratana will also pay up to $5M cash upon the achievement of certain regulatory and manufacturing milestones for the B-cell lymphoma product.
- Aratana also said that it has entered into a share purchase agreement providing for $19.75M of common shares - 1,234,375 shares at $16.00 per share.
Aratana Therapeutics, Inc. is a development stage biopharmaceutical company, which focuses on the licensing, development and commercialization of innovative prescription medications for pets, or pet therapeutics. It delivers innovative prescription medicines that address significant medical... More
Country: United States
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