Gilead paid 13.5mn$ @ 1.97
The results of their partnered program and another one will be reported in Q4 24
masked antibodies... very little toxicity.
I have a small position... Think big rally coming into 2025- atleast to the 1.97 strike.
"Under the License Agreement, the Company will receive approximately $43.5 million in upfront payments, including a cash payment of $30.0 million and an initial equity investment by Gilead of approximately $13.5 million in the Company’s common stock, $0.0001 par value per share (the “Common Stock”), at a purchase price of $1.97 per share. The Company will be eligible to receive up to $604.0 million in additional contingent payments, which include (i) the proceeds from up to three additional private placements of Common Stock, (ii) the $75.0 million transition fee and (iii) specified development, regulatory and sales-based milestones. Prior to the potential transition fee, up to $29.0 million of the total contingent payments are related to the potential additional private placements of Common Stock and a near-term development milestone. In addition, the Company is eligible to receive tiered royalties ranging from high single digits to mid-teens on annual global net product sales."
"In addition, through March 27, 2025, the Company may, at its election and subject to the terms and conditions of the Stock Purchase Agreement, cause Gilead to purchase up to approximately $11.5 million of additional shares of Common Stock (including, at Gilead’s sole election, prefunded warrants in lieu of shares of Common Stock) in up to three additional private placements (each, an “Additional Gilead Private Placement”) at a predetermined price per share..."