PetVivo Settles VetStem Dispute for $75K, Clears Path for Core Products
PETV is trading near its 52-week low of $0.6 (7.1% above the low).
Summary
PetVivo terminated its license and supply agreement with VetStem, resolving all disputes and transitioning the PrecisePRP product line. The settlement requires only $75,000 in cash payments, extinguishing prior royalty, milestone, and invoice obligations. This removes a legal overhang and lets management focus on its proprietary SPRYNG technology. The news follows a recent auditor change and a going concern warning, so clearing this liability is a modest but tangible positive. The VetStem warrant for 250,000 shares remains outstanding, representing potential future dilution.
At the time of this announcement, PETV was trading at $0.64 on OTC in the Life Sciences sector, with a market capitalization of approximately $24.1M. The 52-week trading range was $0.60 to $1.69. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.