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| SUPG > SEC Filings for SUPG > Form 8-K on 25-Nov-2008 | All Recent SEC Filings |
25-Nov-2008
Other Events, Financial Statements and Exhibits
On November 18, 2008, SuperGen, Inc. (the "Company") received clearance from the Food and Drug Administration to initiate clinical trials with one of its drug candidates. The notification of clearance triggered a milestone payment of $5.2 million, payable to the former stockholders of Montigen Pharmaceuticals, Inc. ("Montigen"), pursuant to the Amended and Restated Agreement and Plan of Merger dated March 30, 2006 by and among the Company, Montigen, and certain other parties. The Company previously offered to make such payment in cash or stock. Based on the elections made by the former Montigen stockholders, the Company issued 1,481,445 shares of its common stock to certain of those stockholders, and made cash payments in the aggregate amount of approximately $2,770,430 to the others. The issuance of the shares of common stock is exempt from registration in reliance on Section 3(a)(10).
A copy of press release announcing the event triggering the milestone is attached as Exhibit 99.1 to this report.
(d) Exhibits Exhibit Number Description 99.1 Press Release dated November 20, 2008 |
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