secwatch.observer — SEC 8-K summary
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Issuer:     Inhibitor Therapeutics, Inc. (INTI)
CIK:        0001042418
Form:       8-K
Filed at:   2022-09-15T23:59:59+00:00
Accession:  0001193125-22-245701
Event type: litigation
Sentiment:  positive
Materiality: 0.85
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Inhibitor Therapeutics settles derivative/class actions; Mayne to pay $14.25M cash and surrender equity
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- Mayne to pay $14.25M cash and surrender all its equity (205M+ common shares, convertible preferred, warrants); Mayne debt of $3M canceled.
- Individual defendants Brendan Magrab, Stefan Cross, R. Dana Ono, et al. to retire from board/management; their options/warrants canceled.
- Third Amended Supply and License Agreement with Mayne canceled; Company retains royalty on future US SUBA-Itraconazole BCCNS sales.
- Company's hedgehog-related patents to Mayne become non-exclusive; Mayne's itraconazole formulation patents licensed to Company are terminated.
- Settlement hearing set for November 10, 2022 in Delaware Chancery Court; plaintiffs may seek up to $2M in fees from the cash consideration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1042418/000119312522245701/0001193125-22-245701-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1042418/000119312522245701/d120799d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-245701

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