Three payment streamsUpfront, milestones (for aspects like new market introductions), and royalties.
The combination of all three will determine the value of the deal. The CEO cited that upfront and milestones are "significant", meaning in combination, so we need to consider that statement and how it needs to be interpreted. That is information already available.
As for the upfront payment itself, I would be happy with enough money to position the company for future profitability and no more dilution. This is a pharma company with a cosmetics investment, unlike animal health which is a pure pharmaceutical play. This is a key aspect to indefinitely fuel pipeline growth (anti-aging and animal diabetes to start), and this will factually be the foundation for future sustainable rebasing the typical bad mood trading price.