I have seen upfront payments to bios mentioned in PRs, I have seen milestone payments mentioned as a sum total, but I cannot recall ever seeing any mention of royalty payments (such as 12% of revenues, etc) mentioned as to a bio partnering an indication or platform. Has anyone ever seen this type of info given in a PR, is it required to be filed in some statement to the SEC, or is this considered inside information that is kept quiet due to NDA with the partnering BP?

If it is not given out, how would shareholders know if they got a good deal since all they would have are the upfront and milestone payments while the royalties could be the most important factor of the deal?

Nice to not have to question whether we get a deal but how said deal is going to be structured.