Noxopharm today issued about 4.9% of its stock to Kazia (formerly Novogen) in order to remove any threat of legal action by Kazia over the ownership of NOX66. The relatively low percentage indicates that Kazia held a poor hand.
Kazia has done well to get anything at all, in my opinion, but I can understand the reluctance of Noxopharm to get bogged down in litigation. The pragmatic decision clears the way for Graham Kelly to concentrate on the generation of wealth for Noxopharm shareholders.
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