Patent Assignment and Royalty Agreement
|9 Months Ended|
Sep. 30, 2023
|Patent Assignment And Royalty Agreement|
|Patent Assignment and Royalty Agreement||
Note 10—Patent Assignment and Royalty Agreement
In November 2016, the Company entered into an agreement with the holders of certain intellectual property relating to the Company’s current product candidate. Under the terms of the agreement, the counterparty assigned its rights and interest in certain patents to the Company in exchange for future royalty payments based on a fixed percentage of future revenues, as defined. The agreement is effective until the later of (1) the date of expiration of the assigned patents or (2) the date of expiration of the last strategic partnership or licensing agreement including the assigned patents. revenue has been received subject to these agreements as of September 30, 2023 and 2022.