RELATED PARTY TRANSACTIONS

4 Months Ended

Dec. 31, 2012

RELATED PARTY TRANSACTIONS [Abstract]

RELATED PARTY TRANSACTIONS

(14) RELATED PARTY TRANSACTIONS

Based upon contractual obligations related to the acquisition of our Convivia programfrom a privately-held company in which Mr. Daley, president of clinical development, has a significant interest, the Company issued to Mr. Daley, President of Raptor Therapeutics, 58 shares of Raptor's common stock valued at $119 at issuance and paid $70 in cash bonuses related to Convivia milestones along with another $20 in cash bonuses related to employment milestones pursuant to Mr. Daley's employment agreement.  As no Convivia milestones were met in 2013, no amounts were expensed on the accompanying consolidated statements of operations and comprehensive loss during the fiscal year ended December 31, 2012.

One of the members of Raptor's board of directors served on the board of directors of Limetree Capital (“Limetree”). In connection with the May / June 2008 private placement, the Company issued to Limetree warrants to purchase 439 shares of Raptor's common stock and $628 in cash commissions. In connection with the August 2009 private placement, the Company issued to Limetree warrants to purchase 130 shares of the Company’s common stock and $59 in cash commissions. Also, commencing on April 1, 2009, the Company engaged Limetree to support its investor relations efforts in Europe for a nominal monthly retainer. Through August 31, 2009, the Company has paid $13 in such fees to Limetree. 

In August 2010, the Company entered into a consulting agreement with one of the members of its board of directors to provide business development support for a seven-month period at a monthly retainer totaling $42 plus living expenses totaling $30 per month.