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

10.

Commitments and Contingencies

Operating Leases

The Company leases office space for its corporate headquarters in South San Francisco, California. The lease will expire in February 2018.

Future minimum lease payments under all non-cancelable operating leases as of March 31, 2017, were as follows (in thousands):

 

 

 

Minimum Lease Payments

 

2017

 

 

561

 

2018

 

 

125

 

Total future minimum lease payments

 

 

686

 

Manufacturing Agreements

On May 20, 2016, the Company entered into a development and manufacturing services agreement with CMC ICOS Biologics, Inc. (“CMC”), pursuant to which CMC will conduct manufacturing development and, upon successful development of the manufacturing process, manufacture the Company’s next-generation Factor VIIa variant marzeptacog alfa (activated) that the Company intends to use in its clinical trials. The Company has agreed to a total of $3.8 million in payments to CMC pursuant to the initial statement of work under the Agreement, subject to completion of applicable work stages. As of March 31, 2017, the Company was obligated to $2.1 million in payments to CMC remaining under the agreement.