XML 30 R18.htm IDEA: XBRL DOCUMENT v3.10.0.1
Related Party Transactions
6 Months Ended
Jun. 30, 2018
Related Party Transactions  
Related Party Transactions

11. Related Party Transactions

 

In August 2013, the Company entered into a sublease agreement with NeXeption, Inc. ("NeXeption"), which was subsequently assigned to NST Consulting, LLC, a wholly-owned subsidiary of NST, LLC.  In November 2017, the Company terminated the sublease with NST Consulting, LLC effective March 31, 2018.  The Company paid $590 to NST Consulting, LLC, which amount represented accelerated rent payments.  Total payments made under the sublease during the six months ended June 30, 2018 and 2017 were $570 and $124, respectively. 

 

In February 2014, the Company entered into a services agreement with NST, LLC (the “NST Services Agreement”), pursuant to which NST, LLC provided certain pharmaceutical development, management and other administrative services to the Company. Under the same agreement, the Company also provided services to another company under common control with the Company and NST, LLC and was reimbursed by NST, LLC for those services.  In November 2017, the Company terminated the NST Services Agreement effective December 31, 2017. 

 

Mr. Stephen Tullman, the chairman of the Company’s board of directors, was an executive officer of NeXeption and is also the manager of NST Consulting, LLC and NST, LLC, and three of the Company’s executive officers are and have been members of entities affiliated with NST, LLC.

 

During the three and six months ended June 30, 2018 and 2017, amounts included in the condensed consolidated statement of operations and comprehensive loss for the NST Services Agreement are summarized in the following table:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30, 

 

June 30, 

 

 

    

2018

    

2017

    

2018

    

2017

 

Services provided by NST Consulting, LLC

 

$

 —

 

$

56

 

$

 —

 

$

112

 

Services provided to NST Consulting, LLC

 

 

 —

 

 

(7)

 

 

 —

 

 

(18)

 

General and administrative expense, net

 

$

 —

 

$

49

 

$

 —

 

$

94

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net payments made to NST Consulting, LLC

 

$

 —

 

$

47

 

$

 —

 

$

182

 

 

The Company had a net amount payable of $0 and $570 to NST Consulting, LLC under the NST Services Agreement as of June 30, 2018 and December 31, 2017, respectively.