NBB - "$300 to $500 Million plus 8% royalty  seems to me like an extremely low valuation for the entire Zen3694  IP"

Agree. Slide 17 of the presentation is saying ZCC will retain not less than 8% on the high end of the sliding scale royalty. It sounds and looks like they are negotiating to sell a sliding scale royalty of up to 4% on sales of ZEN-3694 and RVX-208 while retaining not less than 8% on the high end.

tada