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Related Party Transactions
6 Months Ended
Jun. 30, 2018
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. The revenue sharing arrangement was terminated in December 2017.
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 no revenue for the three and six months ended June 30, 2018, compared to $0.4 million and $0.7 million in revenues for the three and six months ended June 30, 2017, respectively, shown in the unaudited condensed consolidated statement of operations as research and development revenue. We had $0.6 million and $1.6 million of receivables from Exela at June 30, 2018 and December 31, 2017, respectively.
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 PLC, to Alfa Aesar, which is a purchasing agent of AstraZeneca PLC, and also to Asymchem Life Science Co, Ltd, which is a contract manufacturer for AstraZeneca PLC.
In the three and six months ended June 30, 2018, we recognized $55 thousand and $0.4 million in revenue from AstraZeneca PLC, compared to $24 thousand and $50 thousand in the three and six months ended June 30, 2017, respectively. We recognized nil and de minimis revenue from Asymchem in the three and six months ended June 30, 2018, respectively, and no revenue in the three and six months ended June 30, 2017, respectively. We recognized no revenue from Alfa Aesar in the three and six months ended June 30, 2018 and 2017, respectively. At June 30, 2018 and December 31, 2017, we had $45 thousand and $86 thousand accounts receivables from AstraZeneca, PLC, respectively, zero and $0.4 million of accounts receivables from Alfa Aesar, respectively, and no accounts receivables from Asymchem.
In the three and six months ended June 30, 2018, we performed a proof of concept screening service using AstraZeneca’s substrate. This service was related to an option for additional services which AstraZeneca had exercised in June. We had completed the additional services and recognized $45 thousand in revenue at June 30, 2018.