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Last $1.80 USD
Change Today +0.04 / 2.27%
Volume 62.3K
PIP On Other Exchanges
As of 4:15 PM 06/30/15 All times are local (Market data is delayed by at least 15 minutes).

pharmathene inc (PIP) Snapshot

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09/10/14 - $2.59
52 Week Low
07/23/14 - $1.19
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pharmathene inc (PIP) Details

PharmAthene, Inc., a biodefense company, develops and commercializes medical counter measures against biological and chemical threats in the United States. Its product candidates include SparVax, a recombinant protective antigen anthrax vaccine for post-exposure prophylaxis in conjunction with antibiotics and general use prophylaxis; Valortim, a human monoclonal antibody to protect against and treat human inhalational anthrax; and recombinant butyrylcholinesterase bioscavenger, a medical countermeasure for nerve agent poisoning by organophosphorous compounds comprising nerve gases and pesticides. The company serves the Biomedical Advanced Research and Development Authority, Chemical Biological Medical Systems, and the National Institute of Allergy and Infectious Diseases. It has collaboration with Bristol-Myers Squibb for developing Valortim; and strategic alliance with Nanotherapeutics, Inc. to develop biodefense programs. The company is headquartered in Annapolis, Maryland.

35 Employees
Last Reported Date: 03/11/15

pharmathene inc (PIP) Top Compensated Officers

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Executives, Board Directors

pharmathene inc (PIP) Key Developments

PharmAthene, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

PharmAthene, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported contract revenue of $7,068,746 against $3,742,525 a year ago. Income from operations was $1,161,084 against loss from operations was $2,401,866 a year ago. Net income before provision for income taxes was $1,483,200 against net loss before provision for income taxes was $2,228,735 a year ago. Net income was $1,463,395 or $0.02 basic and diluted per share against net loss was $2,258,440 or $0.04 basic and diluted per share a year ago. The increase was primarily due to revenue recognition of a one-time payment of $5.8 million related to the audit by BARDA of indirect costs or rates charged by PharmAthene on the SparVax® contract for the years 2008 through 2013. The $5.8 million represented the difference between actual rates (i.e., actual cost to PharmAthene) and the provisional rates used to calculate previously billed and recognized revenue.

PharmAthene, Inc., Annual General Meeting, Jun 10, 2015

PharmAthene, Inc., Annual General Meeting, Jun 10, 2015., at 10:00 US Eastern Standard Time. Location: offices of Dentons US LLP at 1301 K Street. Agenda: To elect up to six (6) directors to the Board of Directors to serve until 2016 Annual Meeting of Stockholders and until their successors have been elected and qualified; to consider and provide an advisory (non-binding) vote to approve the compensation of named executive officers as described in the proxy statement; to ratify the selection by the Audit Committee of the Board of Directors of Ernst & Young LLP as independent registered accounting firm for the fiscal year ending December 31, 2015; and to transact such other business as may properly come before the Annual Meeting and any adjournment or postponement of the Annual Meeting.

PharmAthene, Inc. Announces Executive Changes

PharmAthene, Inc. announced that, in connection with the realignment plan, it plans to reduce its staffing levels by approximately two thirds. Eric Richman, President and Chief Executive Officer, will remain a member of the Board of Directors, but will no longer serve as an Officer of the company after March 11, 2015. He will continue to play a key role in managing the ongoing litigation, other legal matters and strategic transactions in his role as Director. Linda Chang will continue to serve as Chief Financial Officer through April 30, 2015. In accordance with meeting cost-saving objectives, the board will be reduced from eight members to six and Messrs. Joel McCleary and Brian A. Markison intend to resign from the board. John M. Gill, a Director of the company for the past nine years, will assume the role of President and Chief Executive Officer. Mr. Gill is a seasoned biotech executive with more than 30 years' experience in corporate development and strategic planning. Previously, he served as Co-Founder and Chief Executive Officer of TetraLogic Pharmaceuticals and Chief Operating Officer of 3-Dimensional Pharmaceuticals until its sale to Johnson & Johnson. Current Vice President and Controller, Philip MacNeill, will become the Chief Financial Officer following the departure of Linda Chang. Mr. Gill is expected to devote necessary time to carry out his duties as President and Chief Executive Officer, and although he does not have other employment, he is not expected to devote his full time to the business of the company, which his compensation will reflect.


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