OPTINOSE, INC. (NASDAQ: OPTN) Files An 8-K Termination of a Material Definitive AgreementItem 1.02 Termination of a Material Definitive Agreement.
OptiNose, Inc. through its wholly-owned subsidiary OptiNose AS, is a party to that certain License Agreement, dated July 1, 2013, with Avanir Pharmaceuticals, Inc. (“Avanir”), as amended on April 25, 2014 and August 6, 2015 (the “License Agreement”), to which OptiNose has granted an exclusive license to Avanir to develop and commercialize AVP-825 in the U.S., Canada and Mexico.AVP-825 was approved by the U.S. Food and Drug Administration in January 2016 for the acute treatment of migraine in adults and became commercially available in May 2016 under the brand name ONZETRA XSAIL®.The License Agreement provides that Avanir may terminate the License Agreement in its sole discretion upon 90 days’ advance written notice.On December 10, 2018, OptiNose received written notice from Avanir of its election to terminate the License Agreement.As a result, the License Agreement is expected to terminate on March 10, 2019 (the “Termination Date”).Upon termination of the License Agreement, OptiNose may elect to continue to commercialize ONZETRA XSAIL itself or through a new licensee.OptiNose intends to evaluate options with respect to the future of ONZETRA XSAIL.
Item 8.01 Other Events.
On December 11, 2018, OptiNose issued a press release announcing the receipt of written notice from Avanir of its election to terminate the License Agreement to develop and commercialize ONZETRA® XSAIL® in the U.S., Canada, and Mexico. A copy of the press release is attached as Exhibit99.1 to this report and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
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Exhibit No. |
Description |
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99.1 |
Press Release dated December 11, 2018.
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OptiNose, Inc. ExhibitEX-99.1 2 a20181211pressreleaseoptnf.htm EXHIBIT 99.1 Exhibit Exhibit 99.1Optinose Announces Update to License Agreement with Avanir Pharmaceuticals for ONZETRA XSAIL YARDLEY,…To view the full exhibit click here