ORIONS Money Stocks

[HH02]

PTN - BIG news out. PTN market cap currently only in the mid 70's.

Under the terms of the license agreement, AMAG will pay to Palatin $60 million of total upfront consideration, up to $80 million contingent upon achieving certain regulatory milestones and up to $300 million contingent upon meeting certain sales milestones. The first sales milestone is $25 million and would be triggered when Rekynda annual net sales in North America exceed $250 million. Additionally, AMAG expects to reimburse Palatin for up to $25 million of ongoing development expenses incurred by Palatin in connection with the remaining development of Rekynda in 2017. AMAG will also pay Palatin tiered royalties on net sales ranging from high single-digit to low double-digit percentages. AMAG expects the transaction to close in the first quarter of 2017.