Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Sanjay Dori [ph] from Deutsche Bank, please proceed.
Sanjay Dori - Deutsche Bank
Hi, just there were some news in the last 48 hours about Pfizer’s smoking cessation drugs having some better data, how does that affect you and where exactly do you stand with your partnership discussions?
Raafat Fahim
Are you talking about data about sales data?
Sanjay Dori - Deutsche Bank
No, data for the existing drug that was shelved, Chantix I believe.
Raafat Fahim
Yes, but I’m talking about sales data, you are talking about sales data.
Sanjay Dori - Deutsche Bank
Exactly.
Raafat Fahim
Yes, so they actually, in essence Pfizer has been recovering their sales, they have not recovered fully and in fact their sales are still significantly below the forecast that people estimated for it.
So they did recover a little bit from the set back they got after announcement of the adverse events that they have been showing, and we expect that they recover a little bit more, but they will not reach the level of expectation of Chantix because of the side reactions or adverse events that they have been showing with the drug.
In terms of our discussions, as I said in the prepared remarks, that we are in active discussions with strategic partners for NicVAX.
Sanjay Dori - Deutsche Bank
Thank you
Raafat Fahim
Thank you.
Operator
(Operator Instruction) There are currently no audio questions at this time.
Raafat Fahim
Thank you operator. As you have heard today we have made great progress on several fronts. We successfully closed the sale to PentaStaph to GSK and received $21.5 million with an opportunity to receive an additional $26 million contingent on four milestone accomplishments.
We received a $10 million grant from the National Institute on Drug Abuse to partially fund the first NicVAX phase III trial. We initiated the first NicVAX phase III clinical trial. $5.7 million dollars of restricted cash was released to us after the final indemnification claims was withdrawn and in parallel we continue our efforts in controlling our costs. More importantly, we advance our discussions with potential strategic partners to further develop and commercialize NicVAX.
Thank you all for joining us today and thank you for your continued support.
Operator
Thank you for your participation in today’s conference. This concludes the presentation. You may now disconnect. Have a great day.
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