This kind of statement in a PR for almost any othe
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Posted On: 08/25/2020 5:05:12 PM
This kind of statement in a PR for almost any other publicly traded company would have sent the stock price soaring but not GNBT:
Mr. Moscato will also discuss the signed non-binding memorandum of understanding with China for the Ii-Key-SARS-CoV-2 vaccine program in China, which is expected to become effective upon signing the final contractual agreements. Under the terms of the MOU, Generex will receive an upfront $5 million payment, the Chinese partners will fund 100% of the development costs, and Generex will be paid a minimum of $400 million when the vaccine is approved for commercial sale in China.
Mr. Moscato will also discuss the signed non-binding memorandum of understanding with China for the Ii-Key-SARS-CoV-2 vaccine program in China, which is expected to become effective upon signing the final contractual agreements. Under the terms of the MOU, Generex will receive an upfront $5 million payment, the Chinese partners will fund 100% of the development costs, and Generex will be paid a minimum of $400 million when the vaccine is approved for commercial sale in China.
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