According to PTIE, PFE will proceed with the additional clinical studies and other actions required to address the CRL."
Deal economics are unchanged: $15M to PTIE upon approval, 15% of the first $1B in net sales to PTIE (the rate goes to 20% of U.S. net sales after that), ex-U.S. royalty rate is 10%. Supplemental payment of 6-11.5% of net sales is also due to PTIE and is "tied to ... financial obligations to" DRRX. (PR)
Interestingly, both PTIE and DRRX spiked on October 17, seemingly without explanation.
PTIE +25% premarket, DRRX +13%