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I heard on another service that the Niclosomide results that were PR'd April 19 sometimes thereabouts started a clock ticking on this option:

UNION Therapeutics A/S has an option to exclusively license the dry powder formulation of niclosamide, in which case it would take over responsibility for further development.


https://www.globenewswire.com/en/news-release/2022/04/19/242...


Some people thought it was 60 or 90 days to exercise the option but that the clock did not start ticking exactly on 4/19, maybe a bit later.

That poster on the other service estimated about $10M initial payout and then other milestone and royalty payments as the development progressed.
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