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has approved a plan to issue one contingent value right per share of common stock, entitling holders to 25% of the net proceeds from the monetization of the company's first qualifying rare pediatric disease priority review voucher.
The arrangement is subject to a maximum aggregate payment cap of $50 million. The company stated that no product candidate has been approved and no voucher has been awarded to date, meaning no payment is assured.
The CVRs are tied to (Z)-endoxifen, Atossa's lead product candidate, which holds FDA rare pediatric disease designations for Duchenne muscular dystrophy and McCune-Albright syndrome.
If a qualifying marketing application is approved within the requirements of the applicable voucher program, the company may be awarded a priority review voucher.
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