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Related Party Transactions
3 Months Ended
Mar. 31, 2017
Related Party Transactions  
Related Party Transactions

 

9.               Related Party Transactions

 

Related party financing

 

Certain related party lenders provided financing to the Company prior to the Merger, which was subsequently converted to equity at the time of the Merger. For the three months ended March 31, 2016, the Company incurred approximately $975 thousand of interest expense to related party lenders.

 

Consulting agreement

 

The Company had a consulting agreement with its former Chief Executive Officer, who is also a stockholder of the Company. The consultant was paid $0 and $41 thousand, respectively, for the three months ended March 31, 2017 and 2016.  On July 22, 2016, this consulting agreement was replaced by an employment agreement for the position of Chief Medical Officer, Executive Vice President, Research and Development, upon the completion of the Merger.