Note 7 - Commitments

9 Months Ended

Sep. 30, 2013

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

7.      Commitments

Operating Leases

The Company leases office space in the United States, Switzerland, Japan and the United Kingdom, under operating leases through 2017. Total future minimum, non-cancelable lease payments under operating leases, are as follows as of September 30, 2013:

(In thousands of U.S. dollars)	September 30, 2013
Remaining 2013	$	371
2014		1,287
2015		1,096
2016		1,084
2017		139
Total minimum lease payments	$	3,977

Rent expense for all operating leases was approximately $323,000 and $426,000 for the three months ended September 30, 2013 and 2012, respectively, and $1.0 million and $1.2 million for the nine months ended September 30, 2013 and 2012, respectively.

Research and Development Costs

The Company routinely enters into agreements with third-party contract research organizations to oversee clinical research and development studies provided on an outsourced basis and to assist in other research and development activities. The Company generally is not contractually obligated to pay the third party if the service or reports are not provided. Total future estimated costs through 2015 under these agreements as of September 30, 2013 were approximately $5.9 million.

The maximum contingent liability under the Numab Agreement (as defined below) in the event that Numab defaults under its loan with Zurcher Kantonalbank is $2.4 million. As of September 30, 2013, the potential amount of payments in the event of Numab’s default is $2.2 million.