Revance Therapeutics Inc (RVNC)

[soma2022]

Where are you getting your info on such a high milestone payment upon approval in China for Glabella? I believe it will be in the $10 to $20M range, CD approval will follow later this year or in 2025 and trigger another milestone payment. But the majority of the $220M contingent payments will be for sales milestones in China over the coming years.

from last 10Q:
As of March 31, 2024, Fosun has paid us non-refundable upfront and other payments totaling $41.0 million before foreign withholding taxes. We are also eligible to receive (i) additional remaining contingent payments of up to $219.5 million upon the achievement of certain milestones, and (ii) tiered royalty payments in low double digits to high teen percentages on annual net sales.

https://www.biospace.com/article/releases/revance-announces-first-patient-enrolled-for-daxibotulinumtoxina-in-glabellar-lines-and-cervical-dystonia-in-china-by-fosun-pharma/

Under the terms of the license agreement, Revance is eligible to receive additional potential development and sales milestone payments of approximately $230 million, as well as tiered royalty payments in low-double-digit to high-teen percentages on future annual net sales.