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Convertible Notes Payable (Tables)
9 Months Ended
Sep. 30, 2018
Debt Disclosure [Abstract]  
Schedule of Convertible Notes Payable

Convertible notes payable consisted of the following (in thousands):

 

 

 

September 30,

 

 

December 31,

 

 

 

2018

 

 

2017

 

Current maturities:

 

 

 

 

 

 

 

 

Convertible note payable issued during 2014 to Ligand pursuant to the Master License Agreement with a 5% annual interest rate, due during 2016 (amended in January 2016 to a 2.5% annual interest rate with maturity extended to 2017, and subsequently amended in May 2017 with maturity extended to May 21, 2018)

 

$

 

 

$

1,917

 

Conversion payoff value

 

 

 

 

 

1,938

 

Discount on notes payable, current

 

 

 

 

 

(404

)

Convertible notes payable, current (net of discount)

 

$

 

 

$

3,451