SVNT » Topics » Contractual Obligations

This excerpt taken from the SVNT 10-Q filed May 8, 2009.

Contractual Obligations

We have a liability for unrecognized tax benefits of $10.1 million as of March 31, 2009. We are unable to reasonably estimate the amount or timing of payments for this liability, if any. In addition to our contractual obligations set forth in our Annual Report on Form 10-K for the year ended December 31, 2008, the following reflects a summary of material contractual obligations we have incurred as of May 8, 2009. We have accrued approximately $1.6 million for severance costs related to the resignation of our former Senior Vice President of Quality and Regulatory Affairs and the termination of our former Senior Vice President, Chief Financial Officer and Treasurer, which will be paid out over the course of 2009 and 2010, consisting of eighteen months base salary and bonus, unused vacation days, outplacement services and the continuation of health care, dental, life and accidental death and dismemberment and disability insurance coverage for a period of eighteen months. There have been no other material changes to our contractual obligations as presented in our Annual Report on Form 10-K for the year ended December 31, 2008.

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These excerpts taken from the SVNT 10-K filed Mar 2, 2009.

Contractual Obligations

Below is a table that presents our contractual obligations and commitments as of December 31, 2008:

Contractual Obligations


Below is a table that presents our contractual obligations and commitments as of December 31, 2008:


This excerpt taken from the SVNT 10-Q filed Nov 7, 2008.

Contractual Obligations

          In additional to our contractual obligations set forth in our Annual Report on Form 10-K for the year ended December 31, 2007, the following table reflects a summary of material contractual obligations we have incurred as of October 31, 2008.

This excerpt taken from the SVNT 10-Q filed Aug 7, 2008.

Contractual Obligations

     In additional to our contractual obligation set forth in our Annual Report on Form 10-K for the year ended December 31, 2007, the following table reflects a summary of material contractual obligation we have incurred during the six months ended June 30, 2008.

Payments Due by Period
 
          Less Than                 More Than
Contractual Obligations   Total   One Year   1-3 Years   3-5 Years   5 Years
                (In thousands)            
Purchase commitment obligations (1)
 
   Diosynth RTP Inc. (a)     10,129     9,533     596        
   BTG (b)     3,120     3,120            
   Total   $ 13,249   $ 12,653   $ 596   $   $

(1)    Purchase commitment obligations represent our contractually obligated minimum purchase requirements based on our current manufacturing and supply agreements in place with third parties. The table does not include potential future purchase commitments for which the amounts and timing of payments cannot be reasonably predicted.
 
  a)    During 2007, we reached an agreement with Diosynth RTP Inc., or Diosynth, to serve as our secondary source supplier of API for pegloticase and have initiated the transfer of technology to Diosynth with the cooperation of our primary source supplier, BTG. We do not expect Diosynth to commence its commercial supply of API to us prior to mid 2010. Pursuant to our agreement with Diosynth, we have incurred purchase obligations related to the manufacturing and supply process.
 
  b)    In July 2008, we executed an amendment to our existing manufacturing and supply arrangement with BTG. Pursuant to the amendment, we have adjusted our contractual obligations to BTG and have agreed to purchase obligations related to the manufacturing and supply process. Also pursuant to amendments we have agreed to remit to BTG nonrefundable fees for the reservation of manufacturing capacity associated with potential future orders of pegloticase. These capacity reservation fees are expensed as incurred as research and development expenses. The additional reservation fees have amounted to $2.2 million at June 30, 2008. These reservation fees may be applied to potential future orders for pegloticase. We have further agreed to fund capital expenditures for the purchase of certain dedicated capital equipment to increase the capacity of the pegloticase manufacturing process at BTG. We expect the costs for these capital expenditures will be approximately $0.9 million

     We have a liability for unrecognized tax benefits of $8.8 million as of June 30, 2008. We are unable to reasonably estimate the amount or timing of payments for this liability, if any.

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