Quarterly report pursuant to Section 13 or 15(d)


9 Months Ended
Feb. 29, 2020
Inventory Disclosure [Abstract]  
Note 4 – Inventories
The Company’s inventory as of February 29, 2020 and May 31, 2019 was $15,895,589 and $0, respectively. Inventory as of February 29, 2020 consisted solely of specialized raw material purchased for use in the commercial manufacturing of
inventories of Vyrologix to support the Company’s expected approval of the product as a combination therapy for HIV patients in the United States. The Company believes that all material uncertainties related to the ultimate regulatory approval of Vyrologix for commercial sale have been significantly reduced based on positive data from Phase III clinical trial results, information gathered from
meetings with the Food and Drug Administration for the Biologics License Application (“BLA”), and the Company’s anticipated filing of the BLA with the FDA targeted for the end of April 2020.
The Company expects to receive regulatory approval and has determined that it is probable that the Company will realize future economic benefit associated with the costs of these inventories through future sales.