You might have a point there but in light of the onus on identifying every issue it got my spidy senses a tingling. Nuvo does not current receive royalties on Pennsaid 2% so that part of the statement makes sense that they will after FDA approval. In a different part of the statements there is the following line;
In addition, the Company receives royalties on the net sales of Pennsaid® and will receive royalties on the net sales of Pennsaid® 2% when approved in the United States at rates consistent with industry standards for products licensed at a similar stage of development and will be eligible to receive additional sales milestone payments.
Again this statement is ambiguous - they receive royalties on Pennsaid [now] and will receive royalties on Pennsaid 2% when approved [future] and will be eligible to receive additional milestone payments [Pennsaid 2% or both products?].Perhaps I am being a bit a*al but in the context of how management seems to be dumping new and mostly negative information into their reporting who knows for sure; shareholders can't use the excuse that they didn't know.