Prepaid Drug Product for Testing

9 Months Ended

Sep. 30, 2019

Prepaid Drug Product For Testing

Prepaid Drug Product for Testing

3.Prepaid Drug Product for Testing

Advance payments, including nonrefundable amounts, for goods or services that will be used or rendered for future clinical development activities are deferred and capitalized. Such amounts will be recognized as an expense as the related goods are delivered or the related services are performed. The Company recognized certain expenses and incurred installment costs for its contract drug manufacturing and raw material suppliers with prepayments totaling $0.3 million through 2018 pursuant to drug supply contracts for the manufacture and delivery of prexigebersen for testing in two Phase 2 clinical trials and Bcl‑2 for testing in a Phase 1 clinical trial. This amount was carried on the Balance Sheet as of December 31, 2018 at cost as Prepaid Drug Product for Testing. The Company recognized certain expenses and incurred additional installment costs during 2019, with advanced payments totaling $0.8 million, which are carried on the Balance Sheet as of September 30, 2019 as Prepaid Drug Product for Testing (See Note 9).