Transactions with Related Parties
|6 Months Ended|
Jun. 30, 2015
|Related Party Transactions [Abstract]|
|Transactions with Related Parties||
On February 23, 2015, the Company entered into an agreement with Dr. Gary Wilcox, the Companys Chief Executive Officer, pursuant to which Dr. Wilcox agreed to terminate all benefits under his employment agreement with the Company, entered into as of January 2, 2014. Prior to its termination, Dr. Wilcoxs employment agreement had provided for a base salary, target bonus, and stock options. Dr. Wilcox will continue to serve as consultant to the Company and as a Board Director. As a consultant Dr. Wilcox was paid $25,000 in the three months and six months ended June 30, 2015.
The company leases laboratory facilities and equipment, located in Tucker, Georgia, from C.S. Family, LLC, a limited liability company that is wholly owned by Raymond F. Schinazi, Chairman. This lease was in place with RFS Pharma prior to the Companys acquisition of that entity and terminates December 31, 2016.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://www.xbrl.org/2003/role/presentationRef