Note 3 - License, Clinical Trial and Sponsored Research Agreements

Research and Development Expenses - All Licenses

For the three months ended March 31, 2020 and 2019, the Company recorded the following expense in research and development for licenses acquired:

License Agreements

City of Hope

On May 31, 2017, the Company entered into an exclusive license agreement with the City of Hope National Medical Center (“COH”) for the use of human epidermal growth factor receptor 2 (“HER2”)  chimeric antigen receptor (“CAR”) engineered  T cell (“CAR T”) technology, which will initially be applied in the treatment of glioblastoma multiforme. Pursuant to this agreement, additional payments are due for the achievement of ten development milestones totaling $14.9 million, and royalty payments in the mid-single digits are due on net sales of licensed products.

For the three months ended, March 31, 2020, the Company expensed a non-refundable milestone payment of $0.3 million in connection with the Phase 1 clinical study of HER2 CAR T technology at COH.

Research and Development Expenses - Sponsored Research and Clinical Trial Agreements

For the three months ended March 31, 2020 and 2019, the Company recorded the following expense in research and development for sponsored research and clinical trial agreements: