RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2014

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

NOTE 11—RELATED PARTY TRANSACTIONS

        The individual employed as the Company's Vice President, Finance and Corporate Development as of the closing of the initial public offering, is the owner of Aumoe Partners, LLC ("Aumoe"), which was engaged in January 2012 to perform certain financial advisory services.

        The Company incurred $22,500 and $77,500 in fees for services rendered by Aumoe for the years ended December 31, 2014 and 2013, respectively, which were recorded in general and administrative expenses.

        In June 2014, the Company signed an agreement (the "Agreement") with Drug Development Advisors ("DDA") pursuant to which DDA has agreed to perform a gap analysis on the preclinical section of the Company's new drug application. The gap analysis will be performed by a number of toxicologists with significant experience conducting preclinical activities with a number of product candidates in connection with their respective NDA processes and otherwise. This work was completed in 2014. DDA is managed by a member of the Company's board of directors.

       The Company incurred $30,734 and $0 in fees for services rendered by DDA for the years ended December 31, 2014 and 2013, respectively, which were recorded in research and development expenses.