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Related Party Transactions
3 Months Ended
Mar. 31, 2023
Related Party Transactions [Abstract]  
Related Party Transactions

10. Related Party Transactions

On October 17, 2019, the Company entered into a Research and Development Support Services Agreement with Bayside Pharma, LLC (“Bayside”) that outlined the terms of services provided by Bayside to the Company, as well as the fees charged for such services. Bayside is a research and development services company that provides certain research and development support services and facilities. Bayside is owned by an employee of the Company. The Company pays Bayside monthly for costs incurred under the agreement. Either party may terminate the support services agreement by giving 30 days’ prior notice.

Expense recognized by the Company under the related party Support Services Agreement with Bayside was as follows (in thousands):

 

 

 

Three months ended

 

 

 

March 31,

 

 

 

2023

 

 

2022

 

Research and development - Bayside

 

$

250

 

 

$

203

 

Total research and development - related party

 

$

250

 

 

$

203

 

At March 31, 2023 and December 31, 2022, the Company had accounts payable and accrued expenses due to related parties of $0.2 million and $0.1 million, respectively. At March 31, 2023 and December 31, 2022, the Company had an immaterial amount of prepaid expenses to related parties.