Replies to post #91446 on Cytodyn Inc (CYDY)

[Chuckles759]

A $31M payment? Maybe...maybe not....

And why should I do YOUR job....OK...fine this one is a freebee on me.

http://www.koreabiomed.com/news/articleView.html?idxno=5857

Samsung BioLogics said it has signed a deal with U.S. biotech firm CytoDyn to manufacture investigational HIV treatment leronlimab at its headquarters in Songdo, Incheon, on Thursday.

Samsung BioLogics CEO Kim Tae-han (left) and CytoDyn CEO Nader Pourhassan hold up their agreement, at Samsung BioLogics' headquarters in Songdo, Incheon, Thursday.
The deal, publicly disclosed in early April, is worth at least $31 million. The amount may increase up to $246 million by 2027 if CytoDyn successfully develops the drug into a product and starts commercialization.

Based in the Washington State, CytoDyn develops medicines for AIDS and cancer. Earlier, the U.S. Food and Drug Administration granted leronlimab a fast track designation. CytoDyn has completed the phase-3 clinical trials on leronlimab and is now proceeding with the drug’s FDA registration.

[DaveV-1]

Samsung payment from 2019 SEC filing:

From 10k annual report filed with SEC

Contract Manufacturing

During the fourth quarter of fiscal 2019, we entered into a Master Services Agreement and Product Specific Agreement (collectively, the “Samsung Agreement”) with Samsung BioLogics Co., Ltd. (“Samsung”), pursuant to which Samsung will perform technology transfer, process validation, manufacturing and supply services for the commercial supply of leronlimab. In April 2019 we delivered to Samsung a purchase order for $33 million worth of process validation and technology transfer services related to the manufacture of leronlimab, with payments by us scheduled to be made throughout calendar 2020. Under the Samsung Agreement, the purchase order is binding and we are obligated to pay the full amount.