FYI AstraZeneca has not began phase 2 of the seamless phase 1/2...

FYI

AstraZeneca has not began phase 2 of the seamless phase 1/2 clinical trial of AZD0466 yet

It is their next key milestone as indicated in the last update from AstraZeneca

However they are close

A signature payment of US$2 million was paid on execution of the agreement to develop AZD0466.

For the initial product AZD0466, development and launch milestones are worth US$64 million

AstraZeneca commenced a phase 1 clinical trial with AZD0466, triggering the 1st milestone payment to Starpharma of US$3 million

So that leaves us US$61 million to collect

I wonder how much we will receive on initiation of phase 2........ maybe US$10 million

Below is a summary of how milestone payments could play out generally

However with this particular drug.......maybe just maybe the FDA will allow the company to bypass phase 3 and go straight to market

Phase II Start – payment on commencement of a human clinical trial to determine safety and preliminary design of additional efficacy studies;
Phase III Start – payment on commencement of a pivotal human clinical trial;
FDA Filing – payment on filing of a New Drug Application with the FDA;
1st Approval – payment(s) on FDA or other 1st major market approval and/or launch;
EU Filing – payment on filing of a marketing approval application in the EU;
Major EU Approval – payment(s) on EU approval, pricing and/or launch;
Japan+ Filing – payment on filing of a marketing approval application in Japan or other Asia;
Japan+ Approval – payment(s) on Japan or other Asia approval and/or launch;
Other Dev Milestones – typically payments on early R&D, toxicology, development candidate designation or license option exercise;
Deal Size – a summation of all upfront, R&D reimbursement and milestone payments, including Total Dev/Reg milestones, sales milestones and/or milestones for additional products or indications, plus any equity or loan amounts, to be paid to the licensor;
Upfront – the license fee plus any annual payments not based on events (upfront equity was not included, as it is typically based on the fair market value of the securities purchased).