Ask yourself why Gerald elected to postpone partnering with LymPro while collecting more data that would increase the value of the asset. Why would he do this if there was no up-front payment involved? It wouldn't make sense.

LymPro is going to generate a great deal of revenue long before it ever sees FDA approval or is available in every doctors office. Hundreds of millions of dollars in revenue per year. I find it difficult to believe their partner wouldn't be willing to pay tens of millions up front to be a part of that.

Seriously, Gerald didn't delay partnering for no gain. There will be significant up-front money, but Gerald is likely going to want to keep that amount reasonable in order to keep a higher percentage of LymPro revenues for the company.