Prepaid Drug Product for Testing

3 Months Ended

Mar. 31, 2018

Prepaid Drug Product For Testing [Abstract]

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 made payments to its contract drug manufacturing and raw material suppliers in late 2016 and through 2017 totaling $1.1 million pursuant to drug supply contracts for the manufacture and delivery of prexigebersen for testing in Phase 2 clinical trials and Bcl-2 in preparation for a Phase 1 clinical trial. This amount was carried on the Balance Sheet as of December 31, 2017 at cost as Prepaid Drug Product for Testing. The Company incurred additional installment costs of $0.1 million during the first quarter of 2018 resulting in advanced payments totaling $1.3 million, which are carried on the Balance Sheet as of March 31, 2018 as Prepaid Drug Product for Testing (See Note 9).