XML 34 R22.htm IDEA: XBRL DOCUMENT v3.19.1
Subsequent Events
3 Months Ended
Mar. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events

NOTE 16. SUBSEQUENT EVENTS

 

The Company has performed an evaluation of events occurring subsequent to March 31, 2019 through the filing date of this Quarterly Report. Based on its evaluation, no other events as than those described below need to be disclosed.

 

On May 6, 2019, the Company entered into an Asset Purchase Agreement with Eton (the “CT APA”) to re-acquire assets related to its synthetic corticotropin formulation from Eton (CT-100). The CT APA requires royalty on net sales of 3%, subject to adjustments, and milestone payments that allow for three separate payments of $100, $200 and $700 to Eton ($1,000, in aggregate) upon submission of an investigational new drug application, regulatory approval and at the point when cumulative net sales of the CT-100 exceed $50,000, respectively.