Research Grants And Agreements

6 Months Ended

Jun. 30, 2019

Research Grants And Agreements [Abstract]

Research Grants And Agreements

9.  Research Grants and Agreements

Sponsored Research Agreement

The Company may annually sponsor research activities (SRAs) performed by ODURF’s Frank Reidy Center. ODURF is compensated by the Company for its conduct of each study in accordance with the budget and payment terms set forth in the applicable task order. During the year ended December 31, 2018, the Company agreed to sponsor $0.8 million in research during the subsequent 12-month period to be funded through monthly payments made upon ODURF certifying, to the Company’s reasonable satisfaction, that ODURF has met its obligations pursuant to the specified task order and statement of work. The principal investigator may transfer funds with the budget as needed without the Company’s approval so long as the obligations of ODURF under the task order and statement of work remain unchanged and unimpaired. As of June 30, 2019, approximately $0.1 million remained payable under this agreement.

In addition, during 2017, the Company agreed to provide $0.3 million in research funding to researchers affiliated with ODURF and Eastern Virginia Medical School matching funds made available to those researchers by the Virginia Biosciences Health Research Corporation. The Company’s sponsorship affords access to certain intellectual property, if any, developed during the project. As of June 30, 2019, no amount remained available under this sponsorship.

During the three-month periods ended June 30, 2019 and 2018, the Company paid and incurred costs relating to the SRAs equal to $0.3 million and $0.1 million, respectively. During the six-month periods ended June 30, 2019 and 2018, the Company paid and incurred costs related to the SRAs equal to $0.5 million and $0.4 million, respectively.