Enveric Biosciences, Inc. (NASDAQ:ENVB) shares are soaring Thursday after the company announced it has signed three non-binding term sheets with an undisclosed biotechnology company to pursue the out-licensing of compounds.
The Details:
Enveric said it could be eligible to receive future development and sales milestone payments and execution fees for the three licenses, which in total could add up to $200 million, assuming certain conditions are met, including receiving approval for the investigational new drug (IND) applications and completing Phases I through III testing of the licensed products.
Enveric also said royalty rates on each of the three licenses could range from 2.5% up to 10% on ...