Commitments and Contingencies

6 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

7.	Commitments and Contingencies

Technology License – The Company has negotiated exclusive licenses from MD Anderson to develop drug delivery technology for antisense and siRNA drug products. These licenses require, among other things, the Company to reimburse MD Anderson for ongoing patent expense. Related party accrued license payments for past patent expenses and the annual license maintenance fee attributable to the License Agreement totaling $100,000 are included in Current Liabilities as of December 31, 2014. Related party accrued expense totaling $67,050 as of December 31, 2014 represents hospital costs for the clinical trial and are not related to the License Agreement. MD Anderson is no longer a greater than 5% stockholder in the Company. As a result, the Company has consolidated accounts payable with accounts payable – related party, and accrued expense with accrued expense – related party and accrued license payments – related party on the financial statements beginning in 2015.

Operating Lease - In April 2014, the Company entered into a lease agreement for a larger office space, which it occupied as of August 2014. The remaining lease payments due under this lease as of June 30, 2015 are approximately $342,000.

Drug Supplier Project Plan – Bio-Path entered into two project plan agreements with the Company’s drug product manufacturer for the manufacture and delivery of final drug product in 2015. The project plans required the Company to pay approximately $190,000 in various stages as the final product is manufactured and delivered to the Company. In addition, supplier plans with the Company drug substance supplier were entered into in late 2014 totaling approximately $370,000, which has been substantially paid. This material will be used in the final drug product supplier plans and is currently carried on the balance sheet as of June 30, 2015 as Prepaid Drug Product for testing. The balance of drug product is anticipated to be delivered to the Company in the fourth quarter of 2015 and the Balance Sheet item Prepaid Drug Product for Testing totaling $695,843 will be expensed when received.