v3.26.1
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 ten (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.