The finalized term sheet may take a bit longer to
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Posted On: 09/12/2018 8:04:30 PM
The finalized term sheet may take a bit longer to finalize then some are expecting as in the 10K it specifically said
"The Company signed a non-binding term sheet in August 2018 with a global pharmaceutical company for the licensing/rights to Brilacidin for treating oral mucositis and inflammatory bowel diseases. Initial payments, milestone payments and royalties are being negotiated in accordance with the non-binding term sheet. The pharmaceutical company is now engaged in further due diligence. Management can offer no assurances that the parties will enter into a binding definitive agreement."
Many had said the financial terms were already hammered out whereas the above shows they were still being negotiated at the time of the signing in August so that may take a bit longer. Still hoping for a finalized PR in the near future.
"The Company signed a non-binding term sheet in August 2018 with a global pharmaceutical company for the licensing/rights to Brilacidin for treating oral mucositis and inflammatory bowel diseases. Initial payments, milestone payments and royalties are being negotiated in accordance with the non-binding term sheet. The pharmaceutical company is now engaged in further due diligence. Management can offer no assurances that the parties will enter into a binding definitive agreement."
Many had said the financial terms were already hammered out whereas the above shows they were still being negotiated at the time of the signing in August so that may take a bit longer. Still hoping for a finalized PR in the near future.
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