Dr. Reddy's To Make $7.5M Upfront Payment To Coya, $4.2M Payment Upon Acceptance Of IND Application, $4.2M Upon First Patient Dosing In Phase 2 Trial And Development And Regulatory Milestones Of Up To $40M; Coya Is Eligible For Up To $677.25M In Sales-Based Milestones
Portfolio Pulse from Benzinga Newsdesk
Dr. Reddy's Laboratories has agreed to make a series of payments to Coya Therapeutics, including a $7.5M upfront payment, $4.2M upon IND application acceptance, $4.2M upon first patient dosing, and up to $40M in development and regulatory milestones. Additionally, Coya is eligible for up to $677.25M in sales-based milestones.
December 06, 2023 | 12:09 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Dr. Reddy's Laboratories is set to make significant payments to Coya Therapeutics for development and regulatory milestones, as well as potential sales-based milestones, which could impact its financials and cash flow.
The series of payments Dr. Reddy's is committed to making to Coya Therapeutics, especially the large potential sales-based milestones, could lead to significant cash outflows. This financial commitment may concern investors about the impact on short-term liquidity and earnings, potentially leading to a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80