RE: morning2 May 2020 14:56
hello bald eagle.just to clarify i am not suggesting that EMA approval will in and of itself trigger anything (except a fairly significant increase in the s/p which i would regard as inevitable on approval although could be wrong as always). Any payments to FUM will of course depend entirely on what licensing deal or deals if any are negotiated. assuming at least one i would be very surprised if it did not involve some form of upfront payment as this would, imo, be usual. as to the amount well i agree it would depend on the respective bargaining power of the parties,the attractiveness of the product and of course the other terms of the licence.we can only speculate but imo a normal structure would be a modest upfront payment, milestone payments (which would probably take some time to realise ) and royalties probably on a tiered basis. whether this would be sufficient to get FUM through any FDA approval process would depend on what was required,but my point is that approval first in EMA would give then a fairly strong appeal as a financing prospect should further finance be required. just my opinion of course.