Just came on to lurk, and read a few posts on the above subjects - intertwined. IM very strong O:

There will be an NDA associated with every licensing deal - pending or consumated. And that NDA likely lasts forever, i.e., we will never see the details of any licensing agreement.

The dollars that may come from licensing agreements will be reflected in financial reporting in sum total. We (hopefully) will never be able to isolate the monies that come from any one particular licensing deal (and I say "hopefully" because if we were to be able to isolate those monies, it could only happen if there were only one licensee in the affected quarter).

Insider trading - some are expressing frustration because of today's PR and there being no trading restrictions. A license has not been purchased yet. It's pending some event or trigger, as they have (only) agreed to the terms of a license, not executed a license.

No formal, announced trading restriction is required - never is, never was. The rules and laws are in place, and affected people must obey. When an event occurs or info is seen that is truly "material", these people must control themselves and have the good sense to do so. Just as you and I must control ourselves and not run Stop signs, no matter how late we are for that appointment.

I hope this clears some of this up. I honestly believe that all of the above is correct.

SGE