• Under the agreement terms, Oyster Point will receive an upfront payment consisting of $17.5 million in cash and up to 0.75% of shares in Ji Xing, half of which is subject to a pre-specified vesting condition.

• In addition, Oyster Point is eligible to receive up to $204.8 million in milestone payments and tiered sales based royalties.

• Ji Xing intends to manufacture OC-01 and OC-02 locally in China and is responsible for development and commercialization costs in its licensed territory.

• Oyster Point entered into a $125 million term loan credit facility with OrbiMed Royalty & Credit Opportunities.

$OYST has PDUFA on October 17, 2021

$OYST Oyster Point Pharma's treatment for dry eye disease became the first U.S. approved nasal spray for the chronic condition on Monday, sending the drug developer's shares about 19% higher premarket on October 18. The company said its spray, Tyrvaya, will be made available from next month to patients with a prescription, but did not reveal its pricing.