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Related Party Transactions
6 Months Ended
Jun. 30, 2017
Related Party Transactions [Abstract]  
Related Party Transactions

10. Related Party Transactions

The spouse of the Company’s former Chief Executive Officer previously provided consulting services to the Company. For the three and six months ended June 30, 2017, there were no payments made to the spouse in consulting fees. For the three and six months ended June 30, 2016, the Company paid $195,000 and $324,000, respectively, to the spouse in consulting fees, which were recorded in Research and Development expenses. As of June 30, 2017 and December 31, 2016, the Company had no outstanding liability to the related party.

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 equity incentive shares, which 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. The Company paid $25,000 and $13,000 during the three months ended June 30, 2017 and 2016, respectively and $25,000 and $25,000 during the six months ended June 30, 2017 and 2016, respectively, to the founder under the consulting agreement. As of June 30, 2017 and December 31, 2016, the Company had no outstanding liability to the related party.

The Company named a member of its board of directors as interim chief medical officer (“interim CMO”) on April 21, 2017. Under the employment agreement, the interim CMO would receive a salary of $27,000 per month and an option to purchase 24,000 shares of common stock, subject to a service condition. For the three and six months ended June 30, 2017, the Company paid the interim CMO $62,000. On July 20, 2017, the Company appointed the interim CMO as interim chief executive officer (“interim CEO”) upon the resignation of David G. Lowe.