14ner Sales Transaction

9 Months Ended

Sep. 30, 2019

Business Combinations [Abstract]

14 Ner Sales Transaction

12. 14ner Sales Transaction

On July 12, 2019, the Company completed the 14ner Sale. In connection with the 14ner Sale, the Company received an upfront cash payment of $3.5 million and recognized in gain on sale of assets during the three and nine months ended September 30, 2019. The Company is also eligible to receive up to $54.5 million in additional potential development, regulatory approval and commercial-based milestone payments, consisting of:

• $3.0 million for achievement of the primary endpoint in the first registrational clinical study of either MM-121 or MM-111;

• Up to $16.5 million in total payments for the achievement of various regulatory approval and reimbursement-based milestones in the United States, Europe and Japan; and

• Up to $35.0 million in total payments for achieving various cumulative worldwide net sales targets between $100.0 million and $300.0 million for MM-121 and MM-111.