Biotech Values

[dewophile]

Again, this is a firm underwriting. The Company can give the underwriters some slack and postpone the closing, but in the end, the underwriters are obligated to close even if they can't sell the stock at a profit.

Forgive my ignorance, but when you say the underwriters are obligated to close does that mean to back out they would need RVNC's permission or is there some penalty they incur if they do back out at this point?