Delaware Court Denies SIGA's Motion For Partial Summary Judgment In Its Entirety

PharmAthene's Breach of Contract Lawsuit Against SIGA Technologies to Proceed to Trial Starting January 3, 2011

Annapolis, MD/PRNewswire-FirstCall/ -- PharmAthene, Inc. (NYSE Amex: PIP) announced today that the Delaware Court of Chancery has issued a ruling denying in full SIGA Technologies' motion for partial summary judgment in PharmAthene's breach of contract lawsuit against SIGA. Trial on all counts in PharmAthene's complaint in this case is set to commence on January 3, 2011.

Statement on Cautionary Factors

Except for the historical information presented herein, matters discussed may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements preceded by, followed by, or that include the words "potential"; "believe"; "anticipate"; "intend"; "plan"; "expect"; "estimate"; "could"; "may"; "should"; "will"; "project"; "potential"; or similar statements are forward-looking statements. PharmAthene disclaims any intent or obligation to update these forward-looking statements other than as required by law. Risks and uncertainties include risk associated with the reliability of the results of the studies relating to human safety and possible adverse effects resulting from the administration of the Company's product candidates, unexpected funding delays and/or reductions or elimination of U.S. government funding for one or more of the Company's development programs, the award of government contracts to our competitors, unforeseen safety issues, challenges related to the development, scale-up, technology transfer, and/or process validation of manufacturing processes for our product candidates, unexpected determinations that these product candidates prove not to be effective and/or capable of being marketed as products, as well as risks detailed from time to time in PharmAthene's Forms 10-K and 10-Q under the caption "Risk Factors" and in its other reports filed with the U.S. Securities and Exchange Commission (the "SEC"). In particular, there can be no assurance that the Company will prevail in its lawsuit against SIGA or that even if the court rules in the Company's favor the court will award monetary damages or other remedies adequate to fully compensate the Company for its loses.

Copies of PharmAthene's public disclosure filings are available from its investor relations department and our website under the investor relations tab at www.PharmAthene.com.

SOURCE PharmAthene, Inc.