Related Party Transactions

3 Months Ended

Mar. 31, 2016

Related Party Transactions [Abstract]

Related Party Transactions

11.  Related Party Transactions

The spouse of the Company’s Chief Executive Officer provides consulting services to the Company. For the three months ended March 31, 2016 and 2015, the Company paid $129,000 and $93,000, respectively, to the spouse in consulting fees, which were recorded in Research and Development expenses. As of March 31, 2016 and December 31, 2015, the Company had an outstanding liability to the related party of $147,000, and $129,000, respectively.

One of the founders, a non-employee member of the Company’s Board of Directors, entered into a consulting agreement with the Company in 2014 under which the founder would receive $50,000 per year for a fixed number of hours of consulting and advisory services and receive 57,142 Common B shares (converted into 43,290 restricted stock awards and 13,852 stock options upon the LLC Conversion) with the vesting contingent on time and performance milestones being achieved. For the three months ended March 31, 2016 and 2015, the Company paid $13,000 and $13,000, respectively, to the Founder under the consulting agreement. As of March 31, 2016 and December 31, 2015, the Company had no outstanding liability to the related party.