Related Party Transactions

3 Months Ended

Mar. 31, 2017

Related Party Transaction, Due from (to) Related Party [Abstract]

Related Party Transactions

Related Party Transactions

Exela PharmSci, Inc.

We entered into a commercialization agreement with Exela in 2007. Under the license agreement, as amended, we and Exela cross-licensed certain technology relating to the manufacture of argatroban, an API, in exchange for rights to certain sublicensing fees or development payments and profit sharing.

Thomas R. Baruch, one of our directors, serves on the board of directors of Exela, and is a retired general partner in Presidio Partners 2007, LP which owns over 10% of Exela’s outstanding capital stock. As such, Mr. Baruch has an indirect pecuniary interest in the shares of Exela held by Presidio Partners 2007, L.P.

We recognized $0.4 million and $0.7 million for the three months ended March 31, 2017 and 2016, respectively, in the condensed consolidated statement of operations as a revenue sharing arrangement. We had no receivables from Exela at March 31, 2017 and December 31, 2016.

AstraZeneca PLC

Pam P. Cheng, a member of our board of directors, joined AstraZeneca PLC as Executive Vice President, Operations and Information Technology in June 2015. We sell biocatalyst products to AstraZeneca and to Alfa Aesar, which is a purchasing agent of AstraZeneca.

In the three months ended March 31, 2017, we recognized de minimis revenue from AstraZeneca and no revenue from Alfa Aesar, respectively. In the three months ended March 31, 2016, we did not recognize any revenue from AstraZeneca and Alfa Aesar, respectively. We had no accounts receivables from Alfa Aesar at March 31, 2017 and $0.4 million in accounts receivable at December 31, 2016. At March 31, 2017, we had an accounts receivable of $19 thousand from AstraZeneca PLC and no accounts receivable from AstraZeneca PLC at December 31, 2016.