Contingent Consideration |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Contingent Consideration | |
| Contingent Consideration | (13) Contingent Consideration In connection with the Acquisition, the Company agreed to make up to $95,000,000 in contingent milestone payments (each, a “Milestone Payment” and collectively, the “Milestone Payments”) (the “Acquisition Obligation”) to DEFJ upon the achievement within (10) years of the date of the Purchase Agreement of certain milestone events (each, a “Milestone Event”). Milestone Payments are due to DEFJ upon the first achievement by or on behalf of the Company (including any licensee or assignee of rights to commercialize Seviprotimut-L) of the corresponding Milestone Event as follows: (i) a milestone payment of five million U.S. dollars ($5,000,000) upon the first dosing with the Seller Lead Candidate in a patient in a United States Phase 3 Clinical Study; (ii) a milestone payment of ten million U.S. dollars ($10,000,000) upon the achievement of the applicable primary endpoint in a United States Phase 3 Clinical Study of the Seller Lead Candidate; (iii) a milestone payment of twenty million U.S. dollars ($20,000,000) upon the first submission of a Biologics License Application (“BLA”) to the FDA for the Seller Lead Candidate; and (iv) a milestone payment of sixty million U.S. dollars ($60,000,000) upon the first approval by the FDA of a BLA for the Seller Lead Candidate. The estimated fair value of the Acquisition Obligation as of June 30, 2026, and December 31, 2025, was approximately $6.5 million and $6.4 million, respectively. |