(Alliance News) - Motif Bio PLC said Monday it agreed to settle all obligations with its former clinical research organisation without requiring any further payments.
For the six months ended June, Motif had recognised an additional USD2.4 million expense to settle this dispute. This recognition will be reversed following the agreement.
Shares in Motif Bio were 8.3% lower at 0.43 pence in London on Monday.
In October, Motif Bio announced a major restructure which would see its sell its main listeria-fighting drug iclaprim. This followed US regulators requiring iclaprim to pass further hurdles to secure new drug application status.
By Ahren Lester; ahrenlester@alliancenews.com
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