PROVECTUS BIOPHARMACEUTICALS, INC. (OTCMKTS:PVCT) Files An 8-K Other EventsItem 8.01. Other Events.
On July 25, 2017, the United States District Court for the Eastern District of Tennessee at Knoxville (the “Court”) issued a Memorandum Opinion in the matter Provectus Biopharmaceuticals, Inc. v. Harry Craig Dees (“Dees”) and Virginia L. Godfrey finding that Provectus Biopharmaceuticals, Inc. is entitled to receive total damages in the amount of $6,027,652, comprising compensatory damages for misappropriation of travel and expense funds, compensatory damages for Dees’ breach of a settlement agreement, and punitive damages, plus costs. The Court also will enter a permanent injunction enjoining Dees from selling or dissipating assets until the judgment against him is satisfied.
About PROVECTUS BIOPHARMACEUTICALS, INC. (OTCMKTS:PVCT)
Provectus Biopharmaceuticals, Inc. is a development-stage biopharmaceutical company. The Company is engaged in developing pharmaceuticals for oncology and dermatology indications. The Company is focused on developing its prescription drug candidates, PV-10 and PH-10. It is developing PV-10 for treatment of several life threatening cancers, including metastatic melanoma, liver cancer and breast cancer. It is developing PH-10 to provide minimally invasive treatment of chronic severe skin afflictions, such as psoriasis and atopic dermatitis, a type of eczema. In addition to clinical trials, patients enrolled in the expanded access or compassionate use program for PV-10 are also receiving PV-10 treatments for cutaneous and subcutaneous cancer indications. The Company also focuses on over-the-counter (OTC) products and various other non-core technologies. PV-10 is a sterile injectable form of rose bengal disodium (Rose Bengal), for direct injection into tumors.
