It looks to me like the way the deal is structured ISIS may only have claims on 30% of $20M, so $6M total. * $10M is equity. * $30M is r&d reimbursement **** $20M is an upfront payment**** $6M/1B, impact on isis ought to be about 6 cents today. I wonder if isis will quibble. The structure looks like a clear end around of isis.