Related party transactions

6 Months Ended

Jun. 30, 2023

Related party transactions

Related party transactions

11. Related-party transactions

During the six months ended June 30, 2023, the Company received scientific advisory board and other scientific advisory services from Dinah Sah, Ph.D., the Company’s former Chief Scientific Officer. The total amount of fees paid to Dr. Sah for services provided during the three and six months ended June 30, 2023, was $184,000 and $383,800, respectively. The total amount of fees paid to Dr. Sah for services provided during the three and six months ended June 30, 2022 was $82,425 and $92,325, respectively. During the second quarter of 2023, the Company and Dr. Sah agreed to a fee of $50,000 per month for advisory services from Dr. Sah. This agreement became effective during June 2023.

The Company received advisory services related to strategic planning, operations, and management from Alfred Sandrock, M.D., Ph.D., the Company’s current President and Chief Executive Officer and a member of the Company’s Board of Directors, before he commenced service in the capacity of President and Chief Executive Officer in March 2022. The total amount of fees paid to Dr. Sandrock for services provided was $60,000 for the six months ended June 30, 2022.

Under each of the Company’s collaboration agreements with Neurocrine, the Company and Neurocrine have agreed to conduct research, development, and commercialization activities for certain of the Company’s AAV gene therapy product candidates. Amounts due from Neurocrine are reflected as related party collaboration receivables. As of June 30, 2023, the Company had approximately $0.8 million in related party collaboration receivables associated with the 2019 Neurocrine Collaboration Agreement. As of June 30, 2023, the Company had approximately $2.2 million in related party collaboration receivables associated with the 2023 Neurocrine Collaboration Agreement.