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I think the $210 in milestones would be if UNION can progress the drug all the way through P2, P3, and beyond. Maybe a 5% payment e.g. $10M initial milestone here for completing this P1 phase. Presumably UNION would pick up the majority of expenses from here on out though.

I've given up hoping any new drug from any company gets quick COVID approval.

However there are other potential catalysts coming on tacrolimus, voriconazole, cannabis, and more to look forward to.
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