It is no secret that Replidyne (NASDAQ: RDYN) is highly focused upon architecting and executing a new strategic alliance, to replace the Forest Labs (NYSE: FRX) deal that unwound, in order to shepherd the commercialization efforts of Faropenem.
A form 8K was filed with the SEC by the Louisville headquarters announcing a retention bonus has been put into effect with the Sr. VP of Corporate Development and the Chief Financial Officer. No need to name names and numbers here as that is easily identified by those who wish to seek out the info, no, what interests me more is the date of 30 September 2008 as the trigger date for the bonuses as well as the definitions of such an alliance whereby:
(i) a strategic alliance or partnership with an unaffiliated third party that relates to the development and commercialization of faropenem medoxomil or (ii) another strategic transaction to which the Company is a party. The term of the Retention Bonus Agreements extends until the later to occur of (i) September 30, 2008 and (ii) ten days following the consummation of a strategic transaction, provided that the Company has made all required payments thereunder.
So I reckon that there are a couple of ways one can read between the lines of this retention program. At this moment I’ll elect the very bullish angle that a deal may be in the works and will be done by 3Q08, fingers crossed!
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