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Ocean Biomedical ( (OCEA) ) has issued an announcement.
On June 9, 2025, Ocean Biomedical, Inc. received a termination notice from Elkurt, Inc. regarding several license agreements for technologies developed at Brown University and RIH Technologies. These agreements, originally effective from 2020, have undergone numerous amendments, with the latest being in late 2023. The termination was due to alleged material breaches by Ocean Biomedical, including failure to meet payment obligations, diligent development efforts, and achieving milestones as required by the licenses. Elkurt’s notice also mentioned that if the breaches are not cured within 30 days, the licenses will be terminated, which could impact Ocean’s operations significantly.
More about Ocean Biomedical
Average Trading Volume: 54,733,524
Technical Sentiment Signal: Sell
Current Market Cap: $1.76M
For detailed information about OCEA stock, go to TipRanks’ Stock Analysis page.