Thanks for the explanation. I'm sure I wasn't the only one confused how this may work and your example makes sense as there would be no reason for us to account for the inventory on our books only to transfer it to a partner. This will make more sense longer term with multiple BPs also as it is only cash transactions on CYDY accounts.

I'm also unsure if the $50M launch costs are part of the $90M. I tend to lean the the $50M launch is in addition to due to how NP initially explained it saying $50M and added in a comment along the lines of 'or more if needed'.....at least my hope is that the entire $90M is net to CYDY at some point. I wouldn't be surprised if it is $90M total either though.

Like you I would like at least $10M upon BLA submission, but I would think the largest payment will come with FDA approval. Whether this NBA is for all HIV isn't known either. I will gladly take 50% royalty for mono sales, but if this NBA includes mono too then the milestone payments will likely be less and spread out further. We will owe $500k to AbbVie upon BLA submission and $5M to Progenics and another $500k to AbbVie upon FDA approval per the 10-Q (I thought it was only one $500k payment to AbbVie).