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NYSE Amex Required Update

ANNAPOLIS, Md., Aug. 29, 2011 /PRNewswire/ -- PharmAthene, Inc. (NYSE Amex: PIP), a biodefense company developing medical countermeasures against biological and chemical threats, announced today that in view of the relatively large increase in the price of its stock at the end of the trading day on August 25, 2011, the NYSE Amex has contacted the Company in accordance with its usual practice.  It is the Company's policy not to comment on market rumors. However, in compliance with  NYSE Amex listing requirements and at the Exchange's direction, the Company confirms that at the time of this release, it has not received from the Court of Chancery of Delaware a decision relating to the pending litigation with Siga Technologies, Inc. or any additional specific information relating to the timing thereof.

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"; or similar statements are forward-looking statements. PharmAthene disclaims, however, any intent or obligation to update these forward-looking statements. 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, 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 Form 10-K under the caption "Risk Factors" and in its other reports filed with the U.S. Securities and Exchange Commission (the "SEC"). In particular, the timing of the Court's decision and outcome of the case are uncertain. The Court could rule against the Company and find that SIGA did not breach. Furthermore, even if the Court rules in our favor, there can be no assurance that the associated remedy will be significant. Copies of PharmAthene's public disclosure filings are available from its investor relations department and our website under the investor relations tab at http://www.pharmathene.com.

SOURCE PharmAthene, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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