Quarterly report pursuant to Section 13 or 15(d)


3 Months Ended
Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]  



Research and development contracts


The Company has entered into contracts with various contract research organizations with outstanding commitments aggregating approximately $6.1 million at March 31, 2017 for future work to be performed.


Operating leases


As of March 31, 2017, future minimum lease payments under operating leases for office space were as follows (in thousands):


Year Ending December 31,      
2017   $ 387  
2018     459  
2019     181  
    $ 1,027  


Defined contribution plan


Approved by the Company’s Board of Directors on March 3, 2014, effective April 1, 2014, the Company established a qualified defined contribution plan (the “401(k) Plan”) pursuant to Section 401(k) of the Code, whereby all eligible employees may participate. Participants may elect to defer a percentage of their annual pretax compensation to the 401(k) Plan, subject to defined limitations. The Company is required to make contributions to the 401(k) Plan equal to 100 percent of each participant’s pretax contributions of up to three percent of his or her eligible compensation, and the Company is also required to make a contribution equal to three percent of each participant’s salary, on an annual basis, subject to limitations under the Code. For the three months ended March 31, 2017 and 2016, the Company charged operations $16,000 and $133,000, respectively, for contributions under the 401(k) Plan.