ACTINIUM PHARMACEUTICALS, INC. (NYSEMKT:ATNM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02.Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Departure of Officer and Director
On May 12, 2017, Kaushik J. Dave, Chief Executive Officer
(principal executive officer principal financial and accounting
officer) and Director of Actinium Pharmaceuticals, Inc. (the
Company), resigned from the Company. There was no disagreement on
any matters relating to the Companys operations, policies or
practices. The Company also entered into an agreement (the
Agreement) with Dr. Dave. to the terms of the Agreement, the
Company agreed to pay Dr. Dave severance of $410,000 in
accordance with his employment contract. If Dr. Dave elects COBRA
continuation coverage under the Companys group health plan, he
shall only be required to pay active employee rates, as in effect
from time to time, for twelve months. At the conclusion of this
period, shall be eligible to continue his coverage, to COBRA, and
shall be responsible for the entire COBRA premium for the
remainder of the applicable COBRA continuation period. The
Agreement also contains customary confidentiality, release, and
non-disparagement provisions. A copy of the Agreement will be
included as an exhibit to the Companys Form 10-Q for the quarter
ending June 30, 2017.
On May 12, 2017, Dragan Cicic, the Companys Chief Technology
Officer, resigned from the Company. There was no disagreement on
any matters relating to the Companys operations, policies or
practices. The Company also entered into an agreement (the Cicic
Agreement) with Dr. Cicic. to the terms of the Cicic Agreement,
the Company agreed to pay Dr. Cicic severance of $283,000 in
accordance with his employment contract. If Dr. Cicic elects
COBRA continuation coverage under the Companys group health plan,
he shall only be required to pay active employee rates, as in
effect from time to time, for six months. At the conclusion of
this period, he shall be eligible to continue his coverage, to
COBRA, and shall be responsible for the entire COBRA premium for
the remainder of the applicable COBRA continuation period. The
Cicic Agreement contains customary confidentiality, release, and
non-disparagement provisions. A copy of the Cicic Agreement will
be included as an exhibit to the Companys Form 10-Q for the
quarter ending June 30, 2017. The Company also intends to enter
into a three month consulting agreement with Dr. Cicic.
About ACTINIUM PHARMACEUTICALS, INC. (NYSEMKT:ATNM)
Actinium Pharmaceuticals, Inc. (Actinium) is a clinical-stage biopharmaceutical company engaged in developing cancer treatments. The Company is engaged in developing therapies for diseases using its alpha particle immunotherapy platform and other related technologies. The Company’s products include Actimab-A, an antibody-drug construct containing actinium 225 (Ac-225), and Iomab-B, an antibody-drug construct containing iodine 131 (I-131). Actimab-A is in human clinical trials stage for acute myeloid leukemia (AML) and Iomab-B in clinical trial stage for use in myeloconditioning for hematopoietic stem cells transplantation (HSCT) in various indications. Its products under development are monoclonal antibodies labeled with radioisotopes. It has four product candidates in clinical trials: Actimab-A (HuM195-Ac-225), Iomab-B (BC8-I-131), BC8-Y-90 and BC8-SA. It is pursuing development of Actimab-A and Iomab-B, while BC8-Y-90 and BC8-SA are in physician sponsored clinical phase I trials. ACTINIUM PHARMACEUTICALS, INC. (NYSEMKT:ATNM) Recent Trading Information
ACTINIUM PHARMACEUTICALS, INC. (NYSEMKT:ATNM) closed its last trading session down -0.04 at 1.38 with 214,013 shares trading hands.