Bullish Sign: Zalicus Shareholders Receive Good News
By James Stocklasar Thomas Jr.:On tap on Thursday's news Zalicus (ZLCS) shareholders read:
"On April 24, 2012, Novartis and Zalicus entered into an Amendment to the Collaboration Agreement (the "Amendment"), to extend the funded research program under the Collaboration Agreement for an additional year until May 1, 2013 and to modify the basis for up to $3.0 million in funded research payments under the Collaboration Agreement from the funding of Zalicus full-time equivalents to payments based on Zalicus combination screeningdeliverables."
This was good news for Zalicus investors as this was one 2012 variable that otherwise loomed as a risk. Now that risk is over for another year. Zalicus shareholders learned that Novartis (NVS) has extended its combination high through-put [cHTS] for another year. This is one of the most bullish signs IComplete Story »