After the announcement, Benzinga had the chance to chat with Merus CEO, Ton Logtenberg and chief business officer Hui Liu, who shared some insight into the company and the agreement. Deal Specifics This deal is strategic for both companies, and its entirely preclinical, the chief executive began. This means that it doesnt include any of the clinical assets that Merus has, nor a program called MCLA-158 that is on its way to the clinic. What we have done is do come up with a mix of target pairs that address different biologies that are relevant for the development of cancer as well as cancer metastasis and it includes the new programs for which target pairs still need to be identified, he explicated. And, that would also include some of the preclinical pipeline products that Merus has developed, including two of our programs in immunomodulation. The arrangement provides access to cash from Merus, which we can then use to broaden our pipeline, but also to further advance our clinical programs going forward, Logtenberg added. And for that part we plan to work with the cash to create value with something we will small business banking update you on in the next year. A Complex Agreement On top of the collaboration agreement, the deal included other clauses. For instance, under the terms of the contract, Merus will retain all development and commercialization rights in the U.S. for one of its preclinical programs, granting Incyte the ex-U.S.
PLC is the acronym for Profit and Loss Sharing. A may be short for either Chief Accountant or Chartered Accountant. Certificate of Deposit: It is also known as ‘time deposit’. Money measurement concept is one of the most fundamental concepts in accounting, which says that all the transactions should be measured in money terms. Daily Balance: This is the amount that a borrower owes on a credit card, or other types of open-end credit at the end of the day. Debt ratio measures how much of the total funds of the business are provided by outsiders.
The date on which a statement is created is known as the ‘statement date’. Sometimes, a loan modification clause is also included. Under the agreement, a business submits its pending invoices to the factor, which are then verified for their authenticity. Alternative Mortgage: A term used to signify any home loan except the fixed-rate mortgage. Net of taxes usually indicates the effect of applicable taxes, which has been considered in determining the overall effect of an item on the financial statements. Consolidated Financial Statement A consolidated financial statement is a comprehensive statement that gives details regarding all the assets, liabilities and operating accounts of the parent company and subsidiary companies under it, if any. Deferred Development Costs are those, which will be recognized after a certain condition/obligation is satisfied.