Forendo Pharma, Apricus Biosciences deal

Forendo granted Apricus exclusive, U.S. rights to develop and commercialize fispemifene, which has completed two Phase II trials for male secondary hypogonadism. Forendo received an upfront license fee of $12.5 million, consisting of $5 million cash and $7.5 million in Apricus common stock. Forendo is eligible for up to $45 million in clinical and regulatory milestones, including FDA approval; up to $260 million in commercial milestones; and tiered low double-digit royalties. ...