- Menlo Therapeutics' (NASDAQ:MNLO) wholly owned subsidiary, Foamix Pharmaceuticals (NASDAQ:FOMX) has entered into a settlement and license agreement to resolve the remaining pending patent litigation involving Finacea Foam.
- Foamix had out-licensed Finacea Foam to LEO Pharma A/S.
- LEO Pharma has remedied its supply issues and expects to resupply batches of Finacea Foam for commercial sales in the U.S. in the coming weeks.
- Pursuant to the license agreement, Foamix is entitled to the payment of royalties based on the net sales. Following the resupply, royalty payments for Finacea Foam might increase.
- Details of the settlement agreement are confidential.