IMPRIMIS PHARMACEUTICALS, INC. (NASDAQ:IMMY) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
| Entry into a Material Definitive Agreement. |
On April 28, 2017, Imprimis Pharmaceuticals, Inc. (the Company)
entered into a Strategic Sales Marketing Agreement (the
Agreement) with SightLife Surgical, Inc. (SightLife). to the
terms of the Agreement, SightLife will provide exclusive United
States sales and marketing representation services to the Company
in connection with the Companys autologous serum tears compound
formulation (the Products).
Under the terms of the Agreement, the Company is required to make
commission payments to SightLife equal to ten percent (10%) of
each calendar years annual net sales for Products. In addition,
the Company is required to make certain periodic milestone
payments to SightLife in shares of the Companys restricted common
stock including: (i) 5,000 shares if net sales for Products reach
$2,000,000 prior to December 31, 2017; (ii) 7,500 shares if net
sales for Products reach $2,500,000; (iii) 7,500 shares if net
sales for Products reach $5,000,000; (iv) 7,500 shares if net
sales for Products reach $7,500,000; and (v) 7,500 shares if net
sales for Products reach $10,000,000.
The foregoing is only a brief description of the Agreement does
not purport to be a complete description of the rights and
obligations of the parties thereunder and is qualified in its
entirety by reference to the full text of the document, which is
filed as Exhibit 10.1 to this Current Report on Form 8-K and is
incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit No. | Description | |
| 10.1 |
Strategic Sales Marketing Agreement dated April 28, 2017 between Imprimis Pharmaceuticals, Inc. and SightLife Surgical, Inc. |
|
| 99.1 |
Press Release issued by Imprimis Pharmaceuticals, Inc. on May 2, 2017. |
About IMPRIMIS PHARMACEUTICALS, INC. (NASDAQ:IMMY)
Imprimis Pharmaceuticals, Inc. (Imprimis) is engaged in the development, production and dispensing of compounded pharmaceuticals. The Company operates through the business of developing drug therapies and providing such therapies through sterile and non-sterile pharmaceutical compounding services segment. The Company, through its Imprimis Cares program, owns, markets and dispenses a portfolio of compounded therapeutic in several therapeutic areas, including ophthalmology, urology, otolaryngology and infectious diseases. The Company is also developing Custom Compounding Choice business, which is focused on developing and dispensing a portfolio of non-proprietary compounded drugs for humans and animals in therapeutic areas that may be overlooked by commercial pharmaceutical companies. The Company also offers customizable compounding products that consist of sterile injectable and non-sterile integrative medicine therapies that are used in various therapeutic areas. IMPRIMIS PHARMACEUTICALS, INC. (NASDAQ:IMMY) Recent Trading Information
IMPRIMIS PHARMACEUTICALS, INC. (NASDAQ:IMMY) closed its last trading session down -0.04 at 4.18 with 145,686 shares trading hands.
