To be specific the last 10Q (filed in May) said this:
" Phase 1 studies in healthy volunteers using Brilacidin in a proprietary Alfasigma formulation have successfully completed, and Alfasigma has notified the Company that Phase 2 multinational clinical trial planning/regulatory submissions have commenced (1Q2022); Brilacidin drug substance has been manufactured under direction of the Company for delivery to Alfasigma for use in this study. The Company is eligible to receive $24 million in upfront and milestone payments, and a 6 percent royalty (net sales) upon the successful marketing of Brilacidin for UP/UPS."
The Agreement itself says this:
"Royalties. During the Royalty Term, ALFASIGMA will pay IPI a royalty equal to 6% of the Net Sales, on a product-by-product, country-by-country basis, while and to the extent that the Compound or the Product is Covered by any IPI Patent (the “Royalty”, and together with the Initial Payment and the Milestone Payment, collectively, the “Consideration”), provided, however, that the Royalty shall be automatically, without action of any Party, reduced to 2% of the Net Sales if the Compound and/or the Product are not Covered by any IPI Patent or are otherwise Covered by a Joint Patent under Section 8.1(c)."
8.1 Ownership of Know-How and Patent Rights.
(c) If IPI and ALFASIGMA generate Joint IP and/or Joint Patents related to the Compound and/or the Product in the Indication, the ownership of any such Joint IP and/or Joint Patents shall be equally shared by the Parties. Except as otherwise expressly set forth hereunder, neither Party shall license or otherwise Commercially exploit any Joint IP and/or Joint Patent anywhere in the world without the prior written consent of the other Party.
It's morally wrong to allow a sucker to keep his money.
......W. C. Fields
