Replies to post #51189 on Cytodyn Inc (CYDY)

[LOL83001]

H8ster: Yup PGNX should pop soon. Looks like sellers are here 3.2M in first hour. Great news as its a place for more folks to buy in. Many LT holders are whole again...

More good news coming on R&D and regulatory fronts in less than 30 days! GLTA!

[sjacobs26]

PGNX is due $5M milestone payment upon BLA approval plus up to 5% of net sales for all indications.

From August 31,2019 10-Q:

Under the Progenics Purchase Agreement, the Company acquired rights to the HIV viral-entry inhibitor drug candidate PRO 140, a humanized anti-CCR5
monoclonal antibody, as well as certain other related assets, including the existing inventory of bulk PRO 140 drug product, intellectual property, certain
related licenses and sublicenses, and FDA regulatory filings. In connection with purchase, the Company has one remaining milestone payment of
$5.0 million, which will become due at the time of the first U.S. new drug application approval by the FDA or other non-U.S. approval for the sale of PRO
140. In addition, the Company will incur royalty payments of up to 5% on net sales during the period beginning on the date of the first commercial sale of
PRO 140 until the later of (a) the expiration of the last to expire patent included in the acquired assets, and (b) 10 years, in each case determined on a
country-by country basis. During the year ended May 31, 2016 the Company paid a milestone obligation of $1.5 million owed to Progenics as a result of
the first dosing in a U.S. Phase 3 trial. To the extent that the remaining milestone payment and royalties are not timely made, under the terms of the
Progenics Purchase Agreement, Progenics has certain repurchase rights relating to the assets sold to the Company thereunder. As of the date of this filing,
it is management’s conclusion that the probability of achieving the subsequent future scientific research milestone is not reasonably determinable, thus the
future milestone payments payable to Progenics and its sub-licensors are deemed contingent consideration and, therefore, are not currently accruable.