Siga Rises on Chance to Reargue PharmAthene Damages
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Biological warfare defense firms Siga Technologies Inc. and PharmAthene Inc. rose after a court upheld Siga’s liability over a disputed smallpox-medicine licensing agreement while throwing out a potential multibillion-dollar damages ruling for PharmAthene.
The Delaware Supreme Court’s May 24 decision prompted Siga to rise as much as 9.3 percent to $4 today in Nasdaq Stock Market trading. PharmAthene surged as much as 38 percent to $2.20 on the New York Stock Exchange.