Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Zonagen (zona) - good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Linda Kaplan who wrote (3843)	5/3/1998 3:47:00 PM
From: Anaxagoras	Read Replies (1) \| Respond to of 7041

To all: Always go the filings, people. It took me less than 4 minutes to go to Edgar, find the 10-K, get the relevant passage, and read it, and another 2 minutes tops to post it. I've bold-faced the immediately relevant info concerning whether an NDA submission triggers a milestone payment. Anaxagoras <<REPORTS 7.1 Milestone Payments. In partial consideration for the licenses and ------------------ other rights granted to Schering hereunder, Schering shall pay Zonagen milestone payments as follows, -35- <PAGE> * This portion has been omitted based on a request for confidential treatment pursuant to Rule 24b-2 of the Exchange Act. The omitted portion has been separately filed with the Commission. each such payment being due within ten (10) business days after the occurrence of the event triggering such payment hereunder: (a) Five Million Dollars ($5,000,000.00) upon the Effective Date; (b) * after the occurrence of both (i) the completion by Zonagen of the * study of the Licensed Product and the submission of a report to Schering for such study, which reports is in a form reasonably acceptable to Schering and * and (ii) the submission to and acceptance by the United States Food and Drug Administration of a New Drug Application for the Licensed Product in the Field; provided, -------- however, that such NDA is accepted for filing on or before *; and ------- (c) * upon Schering's receipt of written documentation of Regulatory Approval of the Licensed Product with * in the United States; provided, however, that if the first Regulatory Approval of -------- ------- the Licensed Product in the United States is granted without , such milestone payment will be reduced to * if Schering elects not to terminate this Agreement pursuant to either Section 13.2(c) or Section 13.2(d) hereof; and (d) If the first Regulatory Approval of the Licensed Product in the United States is granted without * and Schering has paid the * payment required under Section 7.1 (c) above, Schering will pay to Zonagen an additional * if and when Schering's Net Sales of the Licensed Product in the United States during any four (4) consecutive Calendar Quarters exceeds * in the aggregate provided that such level of Net Sales is attained within the first *** after First Commercial Sale. Each such milestone payment shall be payable one (1) time only regardless of the number of times the event triggering the payment of such milestone occurs. If, with respect to any milestone payment, the triggering event does not occur prior to the termination or expiration of this agreement or another specified in connection with such milestone payment, Schering shall have no obligation to pay such milestone payment to Zonagen.>>