Brief: Liminal Biosciences Announces Termination Of Legacy CDMO Contract

Liminal BioSciences

25/08/2022 12:22

Aug 25 (Reuters) - Liminal BioSciences Inc  LMNL.O :
    * LIMINAL BIOSCIENCES ANNOUNCES TERMINATION OF LEGACY CDMO
CONTRACT
    * LIMINAL BIOSCIENCES INC - TERMINATION RESULTS IN
ANTICIPATED
CASH SAVINGS OF $33.1 MILLION
    * LIMINAL BIOSCIENCES INC - TERMINATION REMOVES LAST OF
LEGACY
CONTRACTS ASSOCIATED WITH FORMER PLASMA-DERIVED THERAPEUTICS
BUSINESS
    * LIMINAL BIOSCIENCES INC - UNDER TERMS OF TERMINATION
AGREEMENT,
LIMINAL BIOSCIENCES WILL PAY A TOTAL OF $18 MILLION
    * LIMINAL BIOSCIENCES - WILL MAKE 2 FURTHER PAYMENTS OF
WHICH $3.4
MILLION WILL BE PAYABLE IN Q1 OF 2023, REMAINING $3.4 MILLION
WILL BE PAYABLE IN Q1 OF 2024

Source text for Eikon:  ID:nCNWqMvVxa 
Further company coverage:  LMNL.O 

 ((Reuters.Briefs@thomsonreuters.com;))