Repayment of CIRM Subsidy and Sales-Linked Royalty Obligation
First written in FY2018. 3 of 4 entries say "Restated". Latest entry: FY2023.
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- FY2023RestatedAnnual report
「C (if lump-sum repayment is not selected): Payment of a 2% royalty on sales for 10 years from the year of launch, or until payments reach a maximum of $180 million.」
The terms of the CIRM grant were reaffirmed: lump-sum repayment upon commercialization or payment of 2% of post-launch sales for 10 years, up to a maximum of $180 million. - FY2020RestatedAnnual report
「If development is successful and the product is commercialized, the Company is required to repay the full amount of the grant in a lump sum or otherwise to the State of California. A royalty of 2% of sales is payable for 10 years from the year of launch, or until payments reach a maximum of $180 million.」
The terms of the CIRM grant were reaffirmed: repayment upon commercialization or payment of 2% of post-launch sales for 10 years, up to a maximum of $180 million. - FY2019RestatedAnnual report
「If development is successful and the product is commercialized, the Company is required to repay the full amount of the grant in a lump sum or otherwise to the State of California. A royalty of 2% of sales is payable for 10 years from the year of launch, or until payments reach a maximum of $180 million.」
The terms of the CIRM grant were reaffirmed: repayment upon commercialization or payment of 2% of post-launch sales for 10 years, up to a maximum of $180 million. - FY2018First statedAnnual report
「If development is successful and the product is commercialized, the Company is required to repay the full amount of the grant in a lump sum or otherwise to the State of California. A royalty of 2% of sales is payable for 10 years from the year of launch, or until payments reach a maximum of $180 million.」
The terms of the CIRM grant were disclosed: repayment of the full amount upon commercialization, or payment of a 2% royalty on sales for 10 years after launch, up to a maximum of $180 million.