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Grant Revenues | 6 Months Ended
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Jun. 30, 2019
Grant Revenues [Abstract] |
Grant Revenues | 7. Grant Revenues In June 2015, the Company entered into a Cancer Research Grant Contract (“Grant Contract”) with CPRIT, under which CPRIT awarded a grant not to exceed $19.8 million for use in developing cancer treatments by exploiting the metabolism of cancer cells. The Grant Contract covered a four-year period from June 1, 2014 through May 31, 2018. Upon commercialization of the product, the terms of the Grant Contract require the Company to pay tiered royalties in the low to mid-single digit percentages. Such royalties reduce to less than one percent after a mid-single-digit multiple of the grant funds have been paid to CPRIT as royalties. The contract ended in May 2018 with the full $19.8 million grant recognized as revenue over the life of the award. The Company did not recognize any grant revenue in the six months ended June 30, 2019. For the three and six months ended June 30, 2018, the Company recognized $2.4 million and $3.9 million, respectively, for qualified expenditures under the grant. As of December 31, 2018, all grant proceeds had been collected.

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