RE:RE:RE:RE:RE:RE:RE:POCThe following is an extract from the Press Release announcing the acquisition of Katana
Theratechnologies will acquire all outstanding shares of Katana for US$5,300,000 or CA$6,900,000. Approximately US$2,000,000, or CA$2,600,000, was paid in cash at closing. Katana shareholders will have the right to receive two milestone payments. The first milestone payment will occur when the first patient for the proof of concept 2 trial is enrolled. At that time, approximately US$1,500,000 will be paid through the issuance of common shares of Theratechnologies. The second milestone will be met when the proof of concept is demonstrated in human subjects, which should be by the end of 2021. This payment will amount to US$1,800,000 in common shares of Theratechnologies.
I dont recall that the second milestone payment upon demonstration of POC has been made ....However I have some recollection that this was amended in a later agreement....Perhaps the Company did realize that POC was too an ill defined terms ,,,,I think if SPCEO could find out in a less than 1 minute phone call with the CFO ...that would at least clarify the discussion