Tuesday, April 18, 2017 6:51:06 AM
Following the satisfaction of certain conditions to closing the License Agreement became effective on the Effective Date. On the Effective Date AMAG paid the Company $60,000,000 as a one-time initial payment. Pursuant to the terms of and subject to the conditions in the License Agreement, AMAG is required to pay the Company up to an aggregate amount of $25,000,000 to reimburse the Company for all reasonable, documented, out-of-pocket expenses incurred by the Company following the Effective Date, in connection with the development and regulatory activities necessary to file a new drug application, or NDA, for Rekynda for HSDD in the United States.
16
In addition, pursuant to the terms of and subject to the conditions in the License Agreement, the Company will be eligible to receive from AMAG: (i) up to $80,000,000 in specified regulatory payments upon achievement of certain regulatory milestones, and (ii) up to $300,000,000 in sales milestone payments based on achievement of annual net sales amounts for all Products in the Territory.
AMAG is also obligated to pay the Company tiered royalties on annual net sales of Products, on a product-by-product basis, in the Territory ranging from the high single-digits to the low double-digits. The royalties will expire on a product-by-product and country-by-country basis upon the latest to occur of (i) the earliest date on which there are no valid claims of the Company’s patent rights covering such Product in such country, (ii) the expiration of the regulatory exclusivity period for such Product in such country and (iii) ten years following the first commercial sale of such Product in such country. Such royalties are subject to reductions in the event that: (a) AMAG must license additional third party intellectual property in order to develop, manufacture or commercialize a Product, or (b) generic competition occurs with respect to a Product in a given country, subject to an aggregate cap on such deductions of royalties otherwise payable to the Company. After the expiration of the applicable royalties for any Product in a given country, the license for such Product in such country will become a fully paid-up, royalty-free, perpetual and irrevocable license.
Recent PTN News
- Palatin to Report Third Quarter Fiscal Year 2024 Results; Teleconference and Webcast to be held on May 15, 2024 • PR Newswire (US) • 05/09/2024 11:30:00 AM
- Palatin Announces FDA Clearance of IND Application for the Co-Administration of Bremelanotide with Tirzepatide (GLP-1) for the Treatment of Obesity • PR Newswire (US) • 05/02/2024 11:30:00 AM
- Palatin to Host Virtual KOL Event "Beyond GLPs: The Multiple Roles for Novel Melanocortin Receptor 4 Agonists in Treating Obesity and Weight Loss Maintenance" on May 8, 2024 • PR Newswire (US) • 04/30/2024 11:30:00 AM
- Palatin Announces Phase 3 PL9643 MELODY-1 Dry Eye Disease (DED) Clinical Data Results Presented at American Society of Cataract and Refractive Surgery (ASCRS) 2024 • PR Newswire (US) • 04/08/2024 11:30:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 10:02:06 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/04/2024 05:57:44 PM
- Palatin Announces Results of PL9643 MELODY-1 Pivotal Phase 3 Clinical Trial in Patients with Dry Eye Disease (DED) • PR Newswire (US) • 02/28/2024 12:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/15/2024 02:00:22 PM
- Palatin Reports Second Quarter Fiscal Year 2024 Financial Results and Provides Corporate Update • PR Newswire (US) • 02/15/2024 12:30:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 02/14/2024 09:17:03 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 07:55:16 PM
- Palatin to Report Second Quarter Fiscal Year 2024 Results; Teleconference and Webcast to be held on February 15, 2024 • PR Newswire (US) • 02/09/2024 12:30:00 PM
- Palatin Announces Database Lock for PL9643 MELODY-1 Pivotal Phase 3 Clinical Trial in Patients with Dry Eye Disease (DED) • PR Newswire (US) • 02/05/2024 12:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/01/2024 10:16:03 PM
- Palatin Announces Closing of $10 Million Registered Direct Offering • PR Newswire (US) • 02/01/2024 09:00:00 PM
- Palatin Announces $10 Million Registered Direct Offering • PR Newswire (US) • 01/30/2024 01:00:00 PM
- Palatin Provides Corporate Update and Highlights Strategic Priorities for Calendar Year 2024 • PR Newswire (US) • 01/08/2024 03:33:00 PM
- Cosette Pharmaceuticals Acquires Vyleesi® (Bremelanotide Injection) from Palatin Technologies Inc. • Business Wire • 01/03/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/20/2023 02:00:18 PM
- Palatin Completes Sale of Vyleesi® to Cosette Pharmaceuticals for up to $171 Million • PR Newswire (US) • 12/20/2023 12:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/18/2023 09:45:22 PM
- Palatin Receives Notice of Acceptance of the Listing Standards Compliance Plan from NYSE American • PR Newswire (US) • 12/18/2023 09:15:00 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 12/18/2023 05:15:25 AM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM