They're not required to disclose the status (failure) based on wording. So if the TS is no longer active (which I'm suspect-of), then Leo's planning to go this alone.
Since the initial term sheet is still in place, my SWAG is the " big Pharmaceutical company" was waiting for the Prurisol results and the EOP 2 meeting to assess the final value and offer before they finalize the agreement. I suspect we will hear something soon.
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