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Knight Therapeutics Inc. (TSXV:GUD) is expected to begin trading on March 3, 2014 at opening. Knight Therapeutics Inc. is owned by the former shareholders of Paladin Labs Inc. (TSEX:PLB) pursuant to a spin-off transaction that was effected today, along with the acquisition of Paladin by Endo Health Solutions Inc. (NASDAQ:ENDP), a leading U.S.-based specialty pharmaceutical company.
Knight Therapeutics Inc. (TSXV:GUD) is expected to begin trading on March 3, 2014 at opening. Knight Therapeutics Inc. is owned by the former shareholders of Paladin Labs Inc. (TSX:PLB) pursuant to a spin-off transaction that was effected today, along with the acquisition of Paladin by Endo Health Solutions Inc. (NASDAQ:ENDP), a leading U.S.-based specialty pharmaceutical company.
As quoted in the press release:
Pursuant to the spin-off transaction, Knight has 3 main assets: (1) a royalty stream from sales of Impavido® outside of the United States. Impavido is approved for sale in 14 countries for the treatment of Leishmaniasis and has been licensed by Knight to Paladin. Applying this royalty stream to Impavido sales in 2012, $463,990 in royalties would have been generated by Knight. (2) A U.S. FDA submission for Impavido, which, if approved, would result in the issuance to Knight of a Priority Review Voucher, discussed further below and (3) $1 million in cash.
Click here to read the Knight Therapeutics Inc. (TSXV:GUD) press release