secwatch.observer — SEC 8-K summary
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Issuer:     ELUTIA INC. (ELUT)
CIK:        0001708527
Form:       8-K
Filed at:   2024-01-12T23:59:59+00:00
Accession:  0001558370-24-000247
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Elutia amends Ligand royalty deal; min annual payment rises to $4.4M, $5M milestone waived
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- Minimum Annual Royalty increased from $2.75M to $4.4M for 2024 and each year thereafter through May 2027.
- Quarterly minimum payment raised from ~$0.7M to $1.1M; $3.0M lump-sum paid for 2023 Q1-Q3 (half due Jan 20, 2024, half by Apr 10, 2024).
- Ligand waived a $5.0M milestone payment that was due in Q2 2023; royalty rate remains 5% of sales on CanGaroo, ProxiCor, Tyke, VasCure.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1708527/000155837024000247/0001558370-24-000247-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1708527/000155837024000247/elut-20240110x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-000247

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer