Subsequent Events

12 Months Ended

Dec. 31, 2016

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On March 13, 2017, the Company entered into a license agreement with Nerviano Medical Sciences, S.r.l., a leading oncology discovery organization (“Nerviano”), that grants the Company exclusive global development and commercialization rights to NMS-1286937, which the Company refers to as PCM-075. PCM-075 is an oral, investigative drug and a highly selective adenosine triphosphate (ATP) competitive inhibitor of the serine/threonine polo-like-kinase 1 (PLK 1). Pursuant to the license agreement, the Company will assume sole responsibility for global development and commercialization of PCM-075. Trovagene will pay Nerviano an upfront payment of $2.0 million, as well as development and regulatory-based milestone payments and royalty payments on future net sales of PCM-075. Nerviano is the current manufacturer of bulk and finished drug for PCM-075 and the Company has all rights to manufacture bulk and finished goods.

On March 15, 2017, in connection with the addition of precision medicine therapeutics to its business, the Company announced a restructuring which the Company estimates will reduce annual pre-tax expenses by approximately $8.0 million per year, primarily through a reduction of approximately 30 employees and expenses primarily linked to research, clinical studies, and operations.

The Company plans to continue providing access to its ctDNA collection, extraction and analysis technology in urine and blood to strategic accounts, including pharmaceutical companies and third party reference laboratories, by internal strategic executives. The Company intends to maintain its CLIA/CAP-certified laboratory for clinical testing services for pharmaceutical companies, third party reference laboratories and physicians and for internal programs.