Note 20 - Related Party Transactions

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

(20) Related Party Transactions

In

August

2016,

the Company granted an option to purchase

5,027,726

shares of common stock, with

4

-year vesting period and the exercise price of

$0.15

per share, to OPKO Health, Inc. (“OPKO”) as consideration for consulting services to be provided by OPKO in accordance with the consulting agreement entered into between the Company and OPKO. The Company recorded

$466,000

as expense related to the OPKO stock option during the year ended

December

31,

2016.

The estimated grant-date fair value of the option is

$5.3

million. The term of the consulting agreement is

4

years and will be automatically renewed for successive

one

year periods. The chairman and chief executive officer of OPKO is a beneficial owner of more than

5%

of the outstanding shares of the Company’s common stock and OPKO itself is also a beneficial owner of more than

5%

of the outstanding shares of the Company’s common stock.