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Notes and Loans Payable (Details) - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Notes and Loans Payable [Line Items]    
Senior secured term loan [1] $ 2,221 $ 3,166
Note payable [2],[3] 386 409
Total notes and loans payable 2,607 3,575
Notes and loans payable, current portion 2,443 2,011
Notes and loans payable, long-term $ 164 $ 1,564
[1] In connection with the Merger with Epicept Corporation, which occurred on August 25, 2013, the Company assumed a senior secured term loan, collateralized by substantially all assets of the Company, from MidCap Financial Trust (“MidCap”). In conjunction with the financing transactions, on July 29, 2015, the Company paid off the Midcap $2.1 million senior secured term loan (see Note 13). The Company has classified the senior secured term loan in current liabilities as of June 30, 2015. In addition, the Company paid early termination fees of $0.5 million in connection with the repayment of the senior secured term loan in July 2015, which will be recorded in July 2015. Interest expense recognized for the senior secured term loan was $65,000 and $0.2 million, respectively for the three and six months ended June 30, 2015 and $0.1 million for the three and six months ended June 30, 2014.
[2] In February 2014, the Company acquired from MabLife, through an irrevocable, exclusive, assignment of all rights, titles and interests in and to the secondary patent rights related to the use of anti-ferritin monoclonal antibodies in the treatment of some cancers, nucleotide and protein sequences of an antibody directed against an epitope common to human acidic and basic ferritins, monoclonal antibodies or antibody-like molecules comprising these sequences. As a full consideration for the secondary patent rights, the Company will pay a total of $0.15 million of which $15 was paid in 2014 and $25 will be paid on the first through fourth anniversary of the agreement and an additional $35 which includes interest of $15 on the fifth anniversary of the agreement. Interest expense recognized on the first and secondary patents for the three months ended June 30, 2015 and 2014, aggregated to $0 and $76, respectively, and $4 and $0.15 million for the six months ended June 30, 2015 and 2014, respectively, which included amortization of the debt discount of $9 and $23, respectively. As a result of the purchase of the patent rights, the Company recorded an intangible asset of $0.5 million (see Note 4).
[3] In March 2012, the Company acquired from MabLife S.A.S. (“MabLife”), through an assignment agreement, all rights, titles and interests in and to the patent rights, technology and deliverables related to the anti-Ferritin mAb, AMB8LK, including its nucleotide and protein sequences, its ability to recognize human acid and basic ferritins, or a part of its ability to recognize human acid and basic ferritins. The consideration was as follows: (i) $0.6 million payable in six annual installments (one of such installments being an upfront payment made upon execution of the agreement) with agreement date present value of $0.4 million using an interest rate of 12%; and (ii) royalties of 0.6% of net sales of any product containing AMB8LK or the manufacture, use, sale, offering or importation of which would infringe on the patent rights with respect to AMB8LK. The Company is required to assign the foregoing rights back to MabLife, if it fails to make any of the required payments, is declared insolvent or bankrupt or terminates the agreement. In February 2014, the parties revised the payment arrangement for the purchase of the original assignment rights. Remaining payments of $0.12 million per year are due in 2015 through 2017.