On December 9, 2019, the Company issued a press release announcing the completion and results of its strategic review. The press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

>

PDL BIOPHARMA, INC. Exhibit
EX-99.1 2 pdli-201912098xkex991.htm PRESS RELEASE Exhibit Exhibit 99.1PDL BioPharma Announces Completion of Strategic Review Process  Will Pursue Monetization of its Assets and Optimal Means of Returning Proceeds to Shareholders;Will Cease Making Additional Strategic Acquisitions and InvestmentsBoard Authorizes Repurchase Program to Acquire up to $200 Million of Outstanding PDL Stock and Convertible NotesConference Call at 9:00 am Eastern Time TodayINCLINE VILLAGE,…
To view the full exhibit click here

About PDL BioPharma, Inc. (NASDAQ:PDLI)

PDL BioPharma, Inc., formerly Protein Design Labs, Inc., manages a portfolio of patents and royalty assets, consisting of its Queen et al. patents, license agreements with various biotechnology and pharmaceutical companies, and royalty and other assets acquired. The Company provides non-dilutive growth capital and financing solutions to late-stage public and private healthcare companies and offers immediate financial monetization of royalty streams to companies, academic institutions and inventors. It evaluates its investments based on the quality of the income generating assets and potential returns on investment. It is focused on intellectual property asset management, acquiring income generating assets and maximizing value for its stockholders, among others. It receives royalties on sales of over ten humanized antibody products, which include Avastin, Herceptin, Xolair, Kadcyla, Tysabri, Actemra, Gazyva and Entyvio all of which are approved for use.