Now read page 10of same agreement. It explains terms:
7. CERTAIN DEFINED TERMS.
For purposes of this Agreement, the following terms shall have the following meanings:
(a) “1933 Act” means the Securities Act of 1933, as amended.
(b) “Bankruptcy Law” means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.
(c) “BD Agreement” means a significant licensing arrangement with a pharmaceutical company that will include an initial (“up-front”) payment to the Company in an amount in the double-digits millions of dollars and will arrange for such pharmaceutical company to undertake the continuing development of the Company’s Brilacidin compound in the indication of Oral Mucositis, including the conducting and funding of clinical trials aiming towards the filing of an NDA.
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(d) “Break-through Designation” means the granting by the U.S. Food and Drug Administration of the Company’s request for Breakthrough Therapy Designation for the Company’s Brilacidin compound in the indication of Oral Mucositis.
(e) “Business Day” means any day on which the Principal Market is open for trading during normal trading hours (i.e., 9:30 a.m. to 4:00 p.m. Eastern Time), including any day on which the Principal Market is open for trading for a period of time less than the customary time.
(f) “Date of Announcement” means the date on which an announcement by the Company is made regarding the Break-through Designation, Successful Phase 2b or BD Agreement milestones. For purposes of this definition, if the Company announces a milestone before the Principal Market is open for trading during normal trading hours, the “Date of Announcement” shall be that Business Day. If the Company announces a milestone during the Principal Market’s normal trading hours, or after the Principal Market’s normal trading hours, then the “Date of Announcement” shall be the following Business Day.
