PharmAthene Reports SIGA Filed Reorganization Plan to Exit from Bankruptcy

PharmAthene, Inc. (NYSE MKT: PIP) reported today that SIGA Technologies, Inc. filed with the U.S. Bankruptcy Court for the Southern District of New York a reorganization plan that sets out the terms and conditions under which SIGA will seek to exit from bankruptcy. The plan filed was negotiated between SIGA and the Statutory Creditor's Committee of which PharmAthene is a member. The plan is subject to approval by the bankruptcy court, on a timeline to be determined. A copy of the plan is available at: https://cases.primeclerk.com/siga/Home-DownloadPDF?id1=MjQwOTg4&id2=0. About PharmAthenePharmAthene is a biodefense company engaged in the development of next generation medical countermeasures against biological and chemical threats. The Company's development portfolio includes two next generation Anthrax vaccines that are intended to improve protection while having favorable dosage and storage requirements compared other Anthrax vaccines. On January 15, 2015, the Delaware Court of Chancery issued its Final Order and Judgment in PharmAthene's litigation against SIGA. The Court of Chancery awarded to PharmAthene lump sum expectation damages for the value of PharmAthene's lost profits for SIGA's smallpox antiviral, Tecovirimat, also known as ST-246® (formerly referred to as "Arestvyr™" and referred to by SIGA in its recent SEC filings as See full press release