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Biotech / Medical : Apricus Biosciences
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To: Strong Long who wrote (1567)11/19/2015 6:33:15 PM
From: phoenix_rising  Read Replies (1) of 2026
 
If you read the 10Q page 15, the agreement is not quite as I first thought. Originally I thought it was a $25 mill payment, but it is not like that, it is more like staggered payments the same as agreements with other pharma in Europe:

Upon FDA approval of a new drug application for Vitaros ® in the United States, Allergan has the right to exercise a one-time opt-in right to assume all future commercialization activities in the United States. If Allergan exercises its opt-in right, the Company is eligible to receive up to a total of $25.0 million in upfront and potential launch milestone payments, plus a double-digit royalty on Allergan’s net sales of the product. If Allergan does not exercise its opt-in right, the Company may commercialize the product and in return will pay Allergan a double-digit royalty on its net sales of the product.
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