Orchid Pharma Limited has informed the Exchange regarding 'Intimation under Regulation 30 read with Schedule III of SEBI Listing Regulations'.
ORCHPHARMA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Orchid Pharma has informed the stock exchanges that Allecra Therapeutics GmbH, the company to which Orchid had out-licensed its invention Enmetazobactam (a beta-lactamase inhibitor antibiotic), has filed for insolvency under German Insolvency Law. Orchid is the original inventor of Enmetazobactam, and Allecra was responsible for its development and commercialisation in certain markets through this licensing arrangement. The insolvency of the licensee raises uncertainty around the future of this partnered asset and any milestone payments or royalties Orchid may have been entitled to. Orchid has not mentioned any financial impact estimates in this intimation.
Negative for shareholders — the insolvency of Orchid's licensing partner Allecra could jeopardise milestone payments, royalties, and the commercial progress of Enmetazobactam, potentially weighing on the stock in the near term.