Analysis4 Jan 2021 15:55
The Company no longer has control of Motif BioSciences Inc. but does retain a contractual interest ( what are the details of that agreement ? ) in any upside in consideration ( What is the agreed minimum value to Hercules ? ) , above what is owed to Hercules Capital Inc. ("Hercules") What was that ? ( The sum that allowed the outstanding charge to be satisfied ) - , at the time of monetisation, should the iclaprim asset be monetised by Hercules. To date, the Subsidiary and Hercules have been unsuccessful in monetising the iclaprim asset ( If patents are subsequently being registered , does this mean a sale or agreement of the IP has taken place ? and Motif still having a vested financial interest would / should they be obliged to disclose to it's shareholders and the wider market ) , and it is not clear when or if they will be able to do so. If there is a monetisation of the iclaprim asset, it is also unclear if there would be any residual available to the Company's shareholders above what Hercules will be owed at that time