Related Party Transactions	3 Months Ended
Mar. 31, 2020
Disclosure Text Block
Related Party Transactions	10. Related Party Transactions Under the collaboration agreement, the Company and Allergan equally support the development and commercialization of linaclotide (Note 4). Amounts due to and due from Allergan are reflected as related party accounts payable and related party accounts receivable, respectively. These balances are reported net of any balances due to or from the related party. As of March 31, 2020 and December 31, 2019, the Company had approximately $73.4 million and approximately $106.0 million, respectively, in related party accounts receivable, net of related party accounts payable, associated with Allergan. The Company has and currently obtains health insurance services for its employees from an insurance provider whose President and Chief Executive Officer became a member of the Company’s Board of Directors in April 2016. The Company paid approximately $2.4 million and approximately $2.5 million in insurance premiums to this insurance provider during the three months ended March 31, 2020 and 2019, respectively. At both March 31, 2020 and December 31, 2019, the Company had no accounts payable due to this related party. At March 31, 2020, the Company had a prepaid asset of $0.6 million with this related party pertaining to payments for future services. In connection with the Separation, the Company executed certain contracts with Cyclerion whose President became a member of the Company’s Board of Directors in April 2019 (Note 2). As of March 31, 2020, the Company had an insignificant amount of accounts receivable and approximately $1.1 million of accounts payable due from and to Cyclerion, respectively. As of December 31, 2019, the Company had an insignificant amount of accounts receivable and approximately $1.5 million of accounts payable due from and to Cyclerion, respectively. The transition services agreements with Cyclerion terminated on March 31, 2020.

Related Party Transactions

3 Months Ended

Mar. 31, 2020

10. Related Party Transactions

Under the collaboration agreement, the Company and Allergan equally support the development and commercialization of linaclotide (Note 4). Amounts due to and due from Allergan are reflected as related party accounts payable and related party accounts receivable, respectively. These balances are reported net of any balances due to or from the related party. As of March 31, 2020 and December 31, 2019, the Company had approximately $73.4 million and approximately $106.0 million, respectively, in related party accounts receivable, net of related party accounts payable, associated with Allergan.

The Company has and currently obtains health insurance services for its employees from an insurance provider whose President and Chief Executive Officer became a member of the Company’s Board of Directors in April 2016. The Company paid approximately $2.4 million and approximately $2.5 million in insurance premiums to this insurance provider during the three months ended March 31, 2020 and 2019, respectively. At both March 31, 2020 and December 31, 2019, the Company had no accounts payable due to this related party. At March 31, 2020, the Company had a prepaid asset of $0.6 million with this related party pertaining to payments for future services.

In connection with the Separation, the Company executed certain contracts with Cyclerion whose President became a member of the Company’s Board of Directors in April 2019 (Note 2). As of March 31, 2020, the Company had an insignificant amount of accounts receivable and approximately $1.1 million of accounts payable due from and to Cyclerion, respectively. As of December 31, 2019, the Company had an insignificant amount of accounts receivable and approximately $1.5 million of accounts payable due from and to Cyclerion, respectively. The transition services agreements with Cyclerion terminated on March 31, 2020.