Other License Agreements and Acquired Product Rights

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Other License Agreements and Acquired Product Rights

8. Other license agreements and acquired product rights:

TTY License and Supply Agreement

On October 7, 2010, the Company announced a license and supply agreement with TTY Biopharm Co., Ltd. (“TTY”) for the exclusive rights to develop and commercialize BEMA^® Fentanyl in the Republic of China, Taiwan. The agreement results in potential milestone payments to the Company of up to $1.3 million, which include an initial upfront one-time non-refundable payment of $0.3 million that was received in 2010. In addition, the Company will receive an ongoing royalty based on net sales. TTY will be responsible for the regulatory filings of BEMA^® Fentanyl in Taiwan as well as future commercialization in that territory. The term of the agreement with TTY is for the

period from October 4, 2010 until the date fifteen years after first commercial sale unless the agreement is extended in writing or earlier terminated as provided for in the agreement.

On February 4, 2016 and June 30, 2016, the Company received separate payments of $0.24 million each from TTY and on October 4, 2016 a payment of $0.4 million, all which related to royalties based on PAINKYL^™ product purchased in Taiwan by TTY of PAINKYL^™.