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PTC Therapeutics To Acquire Censa Pharmaceuticals For $10M Upfront And Up To 850K Shares Of PTC Common Stock

Under the terms of the merger agreement, PTC will pay an upfront consideration of approximately $10 million in cash and up to 850,000 shares of PTC common stock. In addition to the upfront payments, potential future

Benzinga · 05/06/2020 21:12

Under the terms of the merger agreement, PTC will pay an upfront consideration of approximately $10 million in cash and up to 850,000 shares of PTC common stock. In addition to the upfront payments, potential future consideration includes $217.5 million in development and regulatory milestones for the two most advanced programs and receipt of a priority review voucher, including $30 million to be paid in either cash or PTC common stock at our option for completing the enrollment of a Phase 3 clinical trial for CNSA-001 for PKU, $109 million in development and regulatory milestones for each additional indication of CNSA-001, net sales milestones up to an aggregate amount of $160 million and a contingent value payment of a percentage of annual net sales ranging from single to low double digits.