Tekmira Pharmaceuticals Corp StockTekmira Pharmaceuticals Corporation, a biopharmaceutical company, focuses on advancing ribonucleic acid (RNA) interference therapeutics and providing its lipid nanoparticle delivery technology to pharmaceutical partners. Its lead internal product candidates include TKM-PLK1, a siRNA product candidate for the treatment of cancer; TKM-Ebola for the treatment of Ebola virus infection; and TKM-ApoB, to reduce the production of apolipoprotein B 100 (ApoB) in patients with high levels of low-density lipoprotein (LDL) cholesterol. The company has various collaborative and licensing agreements with Alnylam Pharmaceuticals, Inc.; research and products development agreement with F. Hoffmann-La Roche Ltd and Hoffmann-La Roche Inc.; research collaboration agreement with Bristol-Myers Squibb Company and Talon Therapeutics, Inc.; and license agreement with Aradigm Corporation and Merck & Co., Inc. Tekmira Pharmaceuticals is headquartered in Burnaby, Canada.
tekmira pharmaceuticals corp
tekmira pharmaceuticals corp (TKM) Snapshot
52 Week High
09/21/12 - C$4.09
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11/30/11 - C$1.03
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TKM Does Not Pay Dividends
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tekmira pharmaceuticals corp (TKM) Key Developments
Tekmira Pharmaceuticals Corp. announced periodic update to its shareholders on the ongoing litigation with Alnylam Pharmaceuticals and AlCana Technologies. The Massachusetts Superior Court has issued a pre-trial scheduling order with the timeline for the remaining pre-trial events leading up to a trial commencing on November 14, 2012. Key activities in the legal timeline include: expert depositions will be completed by September 28, 2012, witness lists, exhibit lists and other motions must be completed during October 2012; the final pre-trial conference will be on November 7, 2012; jury empanelment will begin on November 13, 2012; and the trial will begin on November 14, 2012. In March 2011, Tekmira filed a complaint in Massachusetts Superior Court against Alnylam alleging misappropriation and misuse of trade secrets, know-how and other confidential information, unfair and deceptive trade practices, unjust enrichment, unfair competition and false advertising. In April 2011, Alnylam filed an answer and counter-claim to Tekmira's complaint. In June 2011, Tekmira amended its complaint to add AlCana as a defendant and add new claims alleging breach of contract, breach of the implied covenant of good faith and fair dealing, tortious interference with contractual relationships and civil conspiracy. As described in the amended complaint, Tekmira is seeking relief in the form of damages including the royalties and profits Alnylam and AlCana would receive from the alleged improper use of Tekmira's technology and the termination of Alnylam's licence to Tekmira's technology. In June 2011, Alnylam filed an amended answer and counter-claim, and, in July 2011, AlCana filed its answer and counter-claim to Tekmira's amended complaint. Alnylam's answer and amended counter-claim alleges, in summary, breach of contract: contractual dispute resolution and confidentiality provisions, defamation, breach of covenant not to sue, breach of patent prosecution cooperation and non-use provisions, and breach of an implied covenant of good faith and fair dealing. AlCana's answer and amended counter-claim alleges, in summary, breach of contract and breach of an implied covenant of good faith and fair dealing. Alnylam's defamation Co. and unter-claim was dismissed by the BLS Court in September 2011 including an award of Tekmira's attorney's fees and costs. The pre-trial scheduling order has been issued outlining the remaining pre-trial events, with the trial scheduled to commence, in front of a jury, beginning on November 14, 2012. In a related matter, Tekmira filed a Notice of Civil Claim in the Supreme Court of British Columbia against certain individuals from AlCana alleging that thousands of confidential documents containing Tekmira's confidential information and trade secrets were downloaded and taken from Tekmira. The alleged document downloading was discovered in the course of producing documents in Tekmira's litigation against Alnylam and AlCana in the Massachusetts Superior Court. Tekmira sought and received an injunction ordering the defendants to surrender all confidential information belonging to Tekmira and prohibiting the defendants from using or disclosing Tekmira's confidential information to any person or corporation. Tekmira is also seeking general and punitive damages. In May 2012, the Supreme Court of British Columbia ruled that the dispute between the corporate parties pending in Massachusetts Superior Court should be resolved prior to addressing the matter in British Columbia. Tekmira's original injunction granted by the Supreme Court of British Columbia is still upheld.
Tekmira Pharmaceuticals Corp. announced that the U.S. Department of Defense has extended the period of a temporary stop-work order with respect to Tekmira's TKM-Ebola program. It is expected that by October 31, 2012, Tekmira will receive notification whether the U.S. Department of Defense will cancel the stop-work order; terminate the contract; or further extend the stop-work order period, if necessary.
Alnylam Pharmaceuticals Inc. announced that the U.S. District Court of the District of Massachusetts has ruled in favor of Alnylam and has denied Tekmira Pharmaceuticals Corp.'s motion to dismiss certain claims and motion to disqualify Alnylam's counsel in an infringement suit filed in January 2012. The infringement suit against Tekmira is based upon Alnylam's allegations that Tekmira has improperly provided lipid nanoparticle (LNP)-formulated small interfering RNA (siRNA) molecules to pharmaceutical collaborators. As announced, the Court has ruled that Alnylam has standing in suing Tekmira for infringement of several patents that Tekmira has exclusively licensed to Alnylam. In addition, Alnylam announced that it has expanded the infringement action with a suit in Canada. As alleged in the complaint filed in January 2012, Tekmira's activities are not protected under the exemption from patent infringement for drug development. As described in the complaint, Tekmira has allegedly infringed a number of issued patents related to siRNA and LNP technologies, including: U.S. Patent No. 7,695,902; U.S. Patent No. 6,858,225; U.S. Patent No. 6,815,432; U.S. Patent No. 6,534,484; U.S. Patent No. 6,586,410; and, U.S. Patent No. 6,858,224. Under Alnylam's contractual right to enforce Isis' patent U.S. Patent No. 7,695,902, Alnylam joined Isis to the suit as a co-plaintiff. In addition, Alnylam has expanded its infringement action against Tekmira to include CA Patent No. 2,359,180. In a complaint filed in the Federal Court of Canada, Alnylam alleges Tekmira is infringing this patent in its collaboration activities and in its own research and development efforts.
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