RE:RE:RE:RE:Expect an announcement re financing in the next two weeks The next milestone payment option ( by Baxter) is triggered after hitting 90 patients in the Tigris Trial. At the time, Baxter looks at the results and decides if they want to proceed with the second payment of three. The first was $5M USD. The tranche 2 and 3 payment amounts were redacted in the disclosed Distribution Agreement when the partnership was first announced.
There has been some speculation that Baxter might be convinced to make an early payment on the second instalment even though we are only roughly 1/2 way to 90. Reasons might include: results exceeding expectations, and to " hepabrotherout" given ICUs focus on Covid vs Trials, and higher costs due to slower enrollment. Also Eden Study and associated costs might help Baxter to broaden the ultimate Label ( ie greater future revenues). Maybe it's just a bridge loan and or Baxter gets something else in return for an accelerated advance.
MM