Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Contractual Obligation, Fiscal Year Maturity Schedule

The following table summarizes the Company’s minimum contractual obligations as of December 31, 2016:



	Payments due by period
($ in thousands)	Total		2017		2018		2019		2020		2021		2022 and thereafter
Operating lease obligations ⁽¹⁾	8,704		1,254		1,254		1,416		1,471		1,471		1,838
Debt obligations ⁽²⁾	22,071		—		—		—		—		22,071		—
Total ⁽³⁾	$	30,775	$	1,254	$	1,254	$	1,416	$	1,471	$	23,542	$	1,838


(1)	Operating lease obligations are stated based on the Amended Lease agreement for the office, warehouse and laboratory facilities executed in February 2012.

(2)

Obligations under the Notes issued in connection with the 2016 Private Placement which includes principal and accrued interest through September 7, 2021, based on stated fixed rates, as the Company has elected to accrue interest. The Notes have a maturity date of the earlier of (i) September 7, 2026 and (ii) one-hundred and eighty (180) days after the date on which the Company's product candidate, FCX-007, is approved by the FDA for the treatment of RDEB. However, each Note holder has the right to require the Company to repay all or any portion of the unpaid principal and accrued interest from time to time on or after September 7, 2021. See details within Note 7.

(3)

This table does not include (a) any milestone payments which may become payable to third parties under license agreements as the timing and likelihood of such payments are not known, (b) any royalty payments to third parties as the amounts of such payments, timing and/or the likelihood of such payments are not known, and (c) contracts that are entered into in the ordinary course of business which are not material in the aggregate in any period presented above.