Abeona Therapeutics Inc 8-K, filed Jul 16, 2021
Abeona Therapeutics Inc. (ABEO)
About this 8-K
Abeona Therapeutics Inc filed this 8-K on July 16, 2021, reporting on events of July 13, 2021.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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| Item 8.01. | Other Events. |
On July 13, 2021 a Tribunal of the American Arbitration Association found in favor of REGENXBIO Inc. in connection with the parties’ arbitration claims and counterclaims, which had been pending since May 2020 and which were previously described in the Company’s Form 10-K for the year ended December 31, 2020 and other forms 10-Q filed by the Company.
Although the Tribunal awarded REGENXBIO $28 million plus interest in connection with the companies’ former license agreement entered into in November 2018, Abeona believes that prior to the arbitration decision the two companies had entered into a binding settlement agreement, including $18 million payable to REGENXBIO over a two-year period, that superseded the Tribunal’s decision. Abeona intends to seek enforcement of the settlement agreement. As REGENXBIO acknowledges in its Form 8-K filing dated July 16, 2021, the timing and amount of any award are uncertain.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Abeona Therapeutics Inc. | ||
| (Registrant) | ||
| By: | /s/ Brendan M. O’Malley | |
| Name: | Brendan M. O’Malley | |
| Title: | Corporate Secretary | |
Date: July 16, 2021