ANI Pharmaceuticals will appeal a Delaware trial court decision in its ongoing legal dispute with CG Oncology. The court recently denied ANI’s post-trial motions for a new trial and judgment as a matter of law regarding assets sold in 2010.
ANI seeks to recover the undisclosed value of the sold assets through the Delaware Supreme Court. The company is also pursuing a 5% running royalty on future worldwide sales of the cancer therapy cretostimogene grenadenorepvec.
President and CEO Nikhil Lalwani stated that ANI intends to vigorously pursue its legal rights. This legal action follows ANI’s strong first-quarter financial results and positive clinical trial data for a separate product.