Useful summary, ab.In April 2021 (or thereabouts), the expansion...

Useful summary, ab.
In April 2021 (or thereabouts), the expansion of the first clinical trial into the global trial was announced. I was disappointed because the first trial was scheduled to be completed in July 2021. AZN would issue a Phase 1 report (absent any SPL double-talk nonsense) and make a decision about starting Phase 2. The start of Phase 2 would be a very positive indication AND make SPL's cash register ring with another milestone payment from AZN.

Instead, we got the global expansion with a new clinical trial ID number. Still a very positive sign of AZN's outlook for their DEP drug, but a long extension of the time until an AZN report is due. AND no milestone. No mention of if or when a milestone payment would be due for the start of "Phase 2" in the combo Phase 1 / 2 trial. I made that point previously. (Yeah, I know the CEO made some verbal reference to a Phase 2 payment sometime, somewhere. I don't give much legal standing to that.)

Now AZN is starting a third clinical trial with another ID number. NO mention of a milestone payment to SPL for this one either. AZN appears to be getting a lot of DEP usage for their one milestone nickel. Is AZN taking advantage of a poorly written contract with SPL? Is SPL making all of their contracts with big pharma and vendors without good legal representation?