Restructuring Costs

12 Months Ended

Dec. 31, 2014

Restructuring and Related Activities Disclosure [Text Block]

17. Restructuring Costs

The Company terminated the PROCEED trial in May 2014 after the interim futility analysis indicated that vintafolide did not demonstrate efficacy on the pre-specified outcome of progression-free survival for the treatment of PROC. As a result, the Company ceased its pre-launch commercial activities and implemented staff reductions in Europe and in the U.S. Included in general and administrative expenses for the year ended December 31, 2014, were expenses for employee termination benefits and contract termination costs of $1.3 million, and included in research and development expenses were $4.1 million of expenses for the PROCEED trial, including continued patient therapy costs for the patients who chose to stay on treatment, as well as site close-out expenses. As of December 31, 2014, all severance had been paid, and the Company had a clinical trial accrual balance related to the PROCEED trial termination of $1.3 million, which is expected to be fully paid by June 2015.

The following table summarizes the restructuring accruals for the year ended December 31, 2014:


	Employee and Contract Termination Accrual			PROCEED Trial Termination Accrual			Total
Balance, January 1, 2014	$	—		$	—		$	—
Charges for the year ended December 31, 2014		1,300,000			4,100,000			5,400,000
Amounts paid in the year ended December 31, 2014		(1,300,000	)		(2,800,000	)		(4,100,000	)
Balance, December 31, 2014	$	—		$	1,300,000		$	1,300,000

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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