Don't forget the ongoing royalties that BOT will pay Brickell,...

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01/09/22

17:55

Post #: 63468943
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Originally posted by Grainofsand: ↑

Brickell Biotech sold SB to BOT because they couldn't it fund it themselves through the FDA process and manufacturing through to sales.

And they didn't sell it for only $5m. $5m is just the latest CR by BOT. The sales terms of SB to BOT are:
upfront cash payment of approximately US$3 million to Brickell
another US$2 million if a positive response is received from the US Food and Drug Administration (FDA) after the NDA filing.
If FDA approval is received before 30 September 2023, Botanix will pay Brickell another US$4 million
Botanix will also make a milestone payment of US$4 million if marketing approval is received from an international regulatory authority in the European Union or United Kingdom,
and the same amount again if approval is received for a new indication from US, EU or UK authorities.
A one-time milestone payment will be made once net sales of Sofpironium Bromide exceed US$75 million for the first time in a year.
In addition, Botanix will reimburse Brickell for limited expenses related to the development of Sofpironium Bromide incurred in recent months.

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Don't forget the ongoing royalties that BOT will pay Brickell, and it should be noted that the milestone payment could be as much as US$160m, which further reiterates that SB is not just some cheap acquisition worth bugger all.
BOT Price at posting: 8.0¢ Sentiment: None Disclosure: Held
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