Federal Trade Commission Granted Early Termination of the Waiting Period for Five Prime Therapeutics

Five Prime Therapeutics (NASDAQ:FPRX) has announced that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvement Acts of 1976.
According to the press release:

[The Hart-Scott-Rodino Antitrust Improvement Acts of 1976 functions] in connection with the exclusive worldwide license and collaboration agreement with Bristol-Myers Squibb (BMS) for the development and commercialization of Five Prime’s colony stimulating factor 1 receptor (CSF1R) antibody program, including FPA008. With the early termination of the applicable waiting period under the HSR Act, the collaboration agreement with BMS is effective as of November 10, 2015, and the related $350 million upfront payment by BMS to Five Prime is due within 30 days of the effective date.
Additional details regarding the collaboration can be found in Five Prime’s Form 8-K filed with the Securities and Exchange Commission on October 15, 2015.

Click here to read the full press release.