Related Party Transactions

3 Months Ended

Mar. 31, 2015

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

Kenneth A. Clark, a director of the Company since November 2012, is a member of the law firm of Wilson Sonsini Goodrich & Rosati (WSGR). The Company retains WSGR as legal counsel for various matters, primarily consisting of intellectual property matters and matters related to the pending Mergers with AbbVie, Inc. (see Note 14 for a brief discussion of the Mergers). During the three months ended March 31, 2015 and 2014, the Company made payments to WSGR of $0.9 million and $0.8 million, respectively. As of March 31, 2015 and December 31, 2014, $3.4 million and $1.3 million, respectively, was included in accrued liabilities in the condensed consolidated balance sheets for amounts due to WSGR.

In January 2015, the Company entered into a six month consulting services agreement with Dr. Robert Booth, a member of its Board of Directors (the Consulting Agreement). In addition, on January 22, 2015, Dr. Booth was granted 10,000 RSUs which vest over four years. The grant date fair value of the RSUs was $1.6 million based on the Company’s closing stock price on January 22, 2015. The Consulting Agreement provides for maximum payments to Dr. Booth of $0.1 million over the six month term and for the reimbursement of documented, authorized travel and out-of-pocket expenses. There were no payments made to Dr. Booth under the Consulting Agreement during the three months ended March 31, 2015.