Note 20 – Subsequent Events



On December 8, 2020 the Company entered into an Asset Purchase Agreement with Roman Health Ventures Inc. to sell its PREBOOST® business. The transaction closed on December 8, 2020. The purchase price was $20.0 million, consisting of $15.0 million paid at closing, $2.5 million payable 12 months after closing and $2.5 million payable 18 months after closing. The Company expects to record an after-tax gain of approximately $18.3 million on the transaction. The Company intends to use the net proceeds from the sale for working capital and general corporate purposes, which will include research and development, and clinical trial activities for our drug candidates.