Have I missed something?
Yes. Just on the numbers you supplied, the $2m in royalty is just a carryover amount from part of the last quarter not yet paid, there is no mention of the $ amount due for the coming quarter but JCR Pharmeceuticals are expecting growth in use of Temcell of over 50% in their next accounting period.
https://ssl4.eir-parts.net/doc/4552/ir_material_for_fiscal_ym3/73052/00.pdf
Or just look at the partial table from the document link above in this post.
Ann: Appendix 4C - quarterly, page-117
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