NanoViricides Inc. (NNVC)

[KMBJN]

Correction: the Theracour royalty is 15%, and it is believed that NNVC owes this to Theracour only on its take, not gross sales.

So the numbers would be, for instance, if NNVC achieves $100M of ocular HerpeCide sales, and if NNVC sells it all themselves, they would keep $85M and owe $15M to Theracour. If they found a partner, say Allergan, after Phase 2B study, they'd probably get an upfront payment in the tens of millions, plus receive say 20-50% royalties - let's assume 25%. So, of $100M of sales, NNVC gets $25M, but they owe 15% of that to Theracour, or $3.75M, and NNVC keeps $21.25M.