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Panther Biotechnology, Inc. Announces Record Date for Biotechnology Milestone Earn-Out Consideration Shares in Response to Recent Positive Feedback from the FDA
Panther Biotechnology, Inc. Announces Record Date for Biotechnology Milestone Earn-Out Consideration Shares in Response to Recent Positive Feedback from the FDA.
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[{"type":"text","content":"\n \n \n Panther Biotechnology, Inc. Announces Record Date for Biotechnology Milestone Earn-Out Consideration Shares in Response to Recent Positive Feedback from the FDA\n \n \nPanther Biotechnology, Inc. Announces Record Date for Biotechnology Milestone Earn-Out Consideration Shares in Response to Recent Positive Feedback from the FDA\n\nPanther has set a record date for the earn out on TRF-DOX and it has filed an application for listing on the OTCQB exchange\n\n \n HOUSTON, TX--(Marketwired - Dec 16, 2016) - Panther Biotechnology, Inc. (OTC PINK: PBYA) or Panther, has announced today that it has set a Record Date or Earn-Out Record Date for shareholders of record to participate in the Earn-Out Consideration afforded to the Earn-Out Shareholders pursuant to the Share Exchange Agreement between Panther Biotechnology, Inc. and Brown Technical Media Corp. filed on November 15th, 2016. The record date for Panther shareholders who are eligible to receive the Earn-Out Consideration is set for January 31st, 2017. Panther expects to file its Form 10K for fiscal year ended October 31, 2016 in conjunction with the Earn-Out Record Date.\n The Earn-Out Consideration is being awarded specifically for milestones resulting from the development of Transferrin Doxorubicin, Panther's novel doxorubicin conjugate initially planned for the treatment of platinum-resistant ovarian cancer. Panther recently announced that it has received positive feedback from the submission presented to the U.S. Food and Drug Administration (\"FDA\") pursuant to a Pre-IND (Investigational New Drug) meeting with the Division of Oncology Products 1 (DOP1) of the Center for Drug Evaluation and Research (CDER) of the FDA.\n As stipulated in the Share Exchange Agreement, Panther shall use its commercially reasonable best efforts to issue to the Earn-Out Shareholders, pro rata with their ownership of the Company as of the Record Date:\n (i) 6,000,000 shares of common stock of Panther, in the event that Transferrin Doxorubicin meets the primary endpoint for Phase 2 clinical trials;\n (ii) 8,000,000 shares of common stock of Panther, in the event that Transferrin Doxorubicin meets the primary endpoint for Phase 3 clinical trials; and\n (iii) 10,000,000 shares of common stock of Panther, in the event that Transferrin Doxorubicin receives FDA Approval / Clearance to market the ...