Seelos Therapeutics Inc (SEEL)

[Dimitrios George]

In looking at other biotechs over the years, I don't recall too much info on exact royalty percentages. If double digits are mentioned, I have always assumed between 10% and 20%, the latter being good imo. Along those lines, Radar (thank you) posted the Cantor take on the call. Irina reduced her expected royalty from 22% to 15% on a future Femprox deal because of the need to undertake a couple of Phase IIIs. Her take would be more informed than most.

As to competitive disadvantage, I guess if a Novartis knew that Majorelle agreed to 15%, why would Novartis agree to more in an additional licensing agreement? It would be nice once the licensing is completed to have disclosure. But then, the licensee might have reasons as to why they want their side to be confidential.

I have the feeling that we will know the milestone payments only after they have been paid. Again, other biotechs are also vague.