Fresh Tracks Therapeutics Entered Into An Amendment To Its Asset Purchase Agreement With Botanix Pharmaceuticals To Sell Its Rights To Future Event-Based Milestones And Earnout Payments On Net Sales Of Sofpironium Bromide To Botanix Subsidiary For $8.25M
Portfolio Pulse from Benzinga Newsdesk
Fresh Tracks Therapeutics has amended its asset purchase agreement with Botanix Pharmaceuticals. The amendment allows Fresh Tracks to sell its rights to future event-based milestones and earnout payments on net sales of Sofpironium Bromide to a Botanix subsidiary for $8.25M.
July 21, 2023 | 12:04 pm
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NEUTRAL IMPACT
Fresh Tracks Therapeutics' decision to sell its rights to future milestones and earnout payments could potentially provide immediate liquidity but may limit future revenue potential.
The sale of rights to future milestones and earnout payments provides Fresh Tracks with immediate liquidity, which could be used for other strategic initiatives. However, this move also means that the company is giving up potential future revenues from Sofpironium Bromide sales. The impact on the stock price will depend on how investors perceive this trade-off.
CONFIDENCE 80
IMPORTANCE 75
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