Ann: Non-binding term sheet signed with BioCryst, page-17

I like the fact that ILA is bolstering their drug development program. If they execute the option they are no longer a 'one-trick pony' (as they say). Also good to see they are not just sitting on their hands waiting for outcomes of ISLA-101. Proactivity is very much a good thing.

Question for me re the terms is whether the $500k payment upon completion of the P2 trial is paid regardless of whether or not the trial is successful. What if the results are not good? Is the company still required to pay $500k for a failed trial?

Not fussed about the 25% payment upon potential sale of the PRV. If the drug is FDA approved, we will all be very happy shareholders. And by then they may have another drug they want to seek FDA approval for so they may use the PRV themselves.