Thanks imtesty!
I saw the slides and listened to the call. The one thing that really sticks with me is the language I copied from slide 5 that I have bolded and underlined. My takeaway is not that a major pharma has agreed to this, but instead that this is what Resverlogix is pushing for. Those bullet points are not guarantees but may simply be what Resverlogix is proposing.
"Development, Option 1, Resverlogix will now finalize it’s ongoing negotiations with Major Pharmaceutical companies to determine a suitable partner for co-developing apabetalone. Codevelopment discussions include the following:
▪ Resverlogix will receive a significant upfront payment H2, 2020.
▪ The Phase 3b clinical trial will be funded by the partnering company - $120 to $150 MM USD.
▪ Our new partner can supply their SGLT2 diabetes drug as the co-medication. Thus providing the pharma partner with valuable marketing material and the ability to launch a fixed dose combination product with patent coverage until 2040.
▪ The deal will also include substantial milestone and royalty payments with an M&A right of first refusal option."
