Delaware Chancery Court Vice Chancellor Donald F. Parsons Jr. denied Siga Technologies’ motion for a reargument in its dispute with PharmAthene Inc., which was decided in September. Siga filed the motion seeking to vacate Parsons’ order that the company share half of its profits from a smallpox drug with PharmAthene once the product reaches $40 million in sales.
Siga filed the motion in October arguing that Parsons misapplied the law and misunderstood material facts in the case when he awarded PharmAthene an equitable lien on the profits of antiviral drug ST-246 inPharmAthene v. Siga Technologies . Siga also argued that Parsons did not have the authority to order such a remedy because it was not requested by PharmAthene.
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