RE: Conduit14 Dec 2023 15:52
Glad we have the CEO we have.
CIZ paid out £255,000 cash for economic interest in AZD1656. Then get paid £200,000 by SGSC so £55,000 paid out and the 5% interest was settled with issuing shares in CIZ to a value of £1,880,000.
They executed the put and received £3,250,000 worth NASDAQ shares in CDT at $10 a share.
Maybe think more of how much potential profit could be made from a £55,000 cash outlay for the economic interest in AZD1656.
20 September 2021
“SGSC to grant Cizzle Biotechnology potential future royalty payments from the commercialisation of St George Street's therapeutic asset AZD1656 of up to GBP5 million, plus potentially further payments from the use of a companion diagnostic.”
“Under the full commercial contract entered into, in consideration of the potential future royalty stream from the commercialisation of AZD1656 , Cizzle Biotechnology is to pay GBP135,000 to SGSC.”
22 October 2021
“Research and Development agreement worth up to GBP1 million signed for potential autoimmune disease testing and possible additional companion diagnostics.”
“SGSC will pay Cizzle Biotechnology GBP200,000 upfront on commencement of the project and then further milestone payments totalling up to GBP1 million. “
14 February 2022
Agreement with Conduit and SGSC to acquire a 5% economic interest for a total consideration of GBP1.88 million, to be settled in new Cizzle ordinary shares at a price of 4.0p per share, a 56.9% premium to the closing mid-market price on 11 February 2022
“The Agreement is in addition to the Company's existing interest in AZD 1656 as announced on 20 September 2021”
29 September 2022
has settled the remaining consideration of GBP880,000 due under the Agreement through the issue of 22,000,000 new ordinary shares of 0.01 pence each ("Ordinary Shares") in the Company at 4.0p per share (the "Agreement Shares") to Conduit.
19 December 2022
“Put Option for Sale of Economic Interest and Royalty Sharing Agreement in AZD1656”
“Cizzle has agreed to pay Conduit GBP120,000 in cash as the premium for the Option”