Conatus Pharmaceuticals Inc. (CNAT)

[staccani]

From the just published 10K:

'Pursuant to the Collaboration Agreement, we are responsible for completing the three ENCORE trials and the POLT-HCV-SVR trial described above . Prior to Novartis’ exercise of the option, Novartis will reimburse us for any costs of the se four Phase 2 b t rials that exceed an agreed upon budget or we will credit any amount under budget to Novartis’ future costs for the four Phase 2 b t rials. If Novartis exercises its option, we will share the costs of the se four Phase 2 b trials equally with Novartis after the effective date of the license grant under the Collaboration Agreem ent . Novartis will also be responsible for 100% of certain expenses for required registration-supportive nonclinical activities . Novartis will be responsible for the development of emricasan beyond the four Phase 2 b trials described above , including the Ph ase 3 development of emricasan single agent products and all development for emricasan combination products , and Novartis has agreed to use commercially reasonable efforts to develop and commercialize emricasan products , if the option is exercised . A joint steering committee comprised of representatives from our company and Novartis will oversee the collaboration, development and commercialization of emricasan products.'