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Subsequent Events
3 Months Ended
Mar. 31, 2017
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events

On May 1, 2017, Shire announced it agreed to license the exclusive worldwide rights to P-321 from Parion Sciences ("Parion"). P-321 is a Phase 2 investigational epithelial sodium channel inhibitor for the potential treatment of dry eye disease in adults. Shire will develop, and if approved, commercialize this compound. Shire will make an initial $20.0 million upfront license payment. Parion will be entitled to receive additional potential milestone payments and has the option to co-fund through additional stages of development in exchange for enhanced tiered double-digit royalties. In addition, Parion has the option to co-fund commercialization activities and participate in the financial outcome from those activities.