XML 42 R22.htm IDEA: XBRL DOCUMENT

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On January 15, 2016, the Company announced top-line results from the Company’s Phase 3 clinical trial of isunakinra for the treatment of severe allergic conjunctivitis. As a result of the outcome of this trial, which constituted a “Study Discontinuation Event” pursuant to the terms of the Loan Agreement, the Company was required to fund a cash collateral account with SVB in an amount equal to approximately $15.1 million, representing the outstanding obligations under the Loan Agreement. On February 10, 2016, the Company provided notice to The Schepens Eye Research Institute, Inc. (“Schepens”) of the Company’s termination of the License Agreement dated July 13, 2010, as amended, between the Company and Schepens (the “License Agreement”), to be effective 60 days following receipt of such notice by Schepens. On March 1, 2016, the Company prepaid all outstanding amounts owed to SVB under the Loan Agreement. The outstanding principal amount under the Loan Agreement was $13.7 million. In addition, the Company paid $0.1 million in accrued interest and $1.1 million in prepayment and other fees.