Biovest, Revimmune deal

Biovest received exclusive, worldwide rights to Revimmune's Revimmune cyclophosphamide to treat and prevent transplant rejection. Revimmune will not receive an upfront payment but, at the time of regulatory approval for each indication, will receive warrants to purchase 2 million shares of Biovest. The seven-year warrants are exercisable at $1.10 or at the market value on the date of issue, at the discretion of Biovest. Biovest closed at $0.50 on Jan. 18, the last trading day before the deal was announced. ...