We have licensed to AMAG all rights to Rekynda for North America, but are contractually obligated to complete development and regulatory activities necessary to file an NDA for Rekynda for HSDD in the United States, with AMAG reimbursing us for up to an aggregate amount of $25,000,000 for all reasonable, documented, out-of-pocket expenses we incur. We received $60,000,000 on the Effective Date of the License Agreement, and pursuant to the terms of and conditions in the License Agreement, we will receive up to $80,000,000 contingent upon achieving certain regulatory milestones and up to $300,000,000 contingent upon meeting certain sales milestones. The first sales milestone is $25,000,000 and would be triggered when the annual net sales of Rekynda in North America exceed $250,000,000. We will also receive tiered royalties on net sales ranging from high single-digit to low double-digit percentages. |