Related-Party Transactions

9 Months Ended

Sep. 30, 2018

7.	Related-Party Transactions

Bio-Techne

Bio-Techne Corporation, formerly Techne Corporation, is one of the Company’s principal stockholders. In connection with the Company’s initial public offering (IPO) in February 2012, Bio-Techne received a warrant with a ten-year term to purchase 150,000 shares of the Company’s common stock at an exercise price per share equal to $20.00 per share, or 200% of the IPO price of its common stock, which was outstanding as of September 30, 2018. The Company had an accounts payable balance due to Bio-Techne for the purchases of research materials of approximately $460 and $6,000 as of September 30, 2018 and December 31, 2017, respectively.