The Rosen Law Firm announced a significant victory by investors in the Radient Pharmaceuticals Corporation investor class action pending in the U.S. District Court for the Central District of California in Santa Ana. On May 20, 2013 the Court resolved motions for summary judgment filed by defendants Radient, Douglas MacLellan and Akio Ariura. The Court found that there were genuine disputes of material fact as to whether Radient and MacLellan committed securities fraud and denied their motions for summary judgment. The Court granted Ariura's motion and he is no longer a defendant. The action was originally filed in March 2011 and seeks to recover losses suffered by all purchasers of Radient common stock between January 18, 2011 and March 4, 2011, inclusive. Plaintiffs assert that on January 18, 2011 Radient issued a materially false and misleading press release by falsely touting the Mayo Clinic's involvement in a clinical trial for Radient's product Onko-Sure. According to the complaint, when the market learned the truth that the Mayo Clinic was not involved in the Onko-Sure clinical trial as Radient represented, the price of Radient common stock declined damaging investors.

On July 17, 2012, Radient Pharmaceuticals Corporation entered into license agreement with Global Cancer Diagnostics Inc. in order to commercialize certain of its intellectual property in the form of a Lung Cancer test (the “Agreement”).Pursuant o the Amendment, GCDx will pay an upfront license fee of $250,000 immediately upon receipt of funds from the first closing of its current financing for approximately $2,000,000, which was anticipated to close no later than September 15, 2012.

On July 13, 2012, Radient Pharmaceuticals Corporation entered into a license agreement with Global Cancer Diagnostics Inc. (GCDx) in order to commercialize certain of its intellectual property in the form of a Lung Cancer test; the intellectual property at issue is specified in the Agreement and is herein referred to as the Licensed Products. Under the Agreement, GCDx will be the company offering a test specific to lung cancer but will not make, use of or sell any of its other tests using the DR-70 reagents. GCDx will pay an upfront license fee of $200,000 for the Licensed Products and will pay for all costs related to patent and FDA filings for the Licensed Products. Both parties recognize the need for additional development and testing of the Licensed Products to obtain FDA Approval of same. The parties shall meet on a quarterly basis to discuss the Licensed Products and the best ways to ensure protection of same. Although GCDx will pay all costs related to developing the Licensed Products for commercial applications, including process development costs, clinical study costs and costs related to the FDA filing and approval process, the parties agreed that GCDx shall pay the company $150 per hour for any additional services GCDx requests above those services initially contemplated to carry out this development.