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Revenue Recognition | 12 Months Ended
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Dec. 31, 2017
Revenue Recognition |
Revenue Recognition | 10. Revenue Recognition In August 2017, the Company entered into an option agreement ("Option Agreement") with an unaffiliated party ("Recipient"), which is within the scope of ASC 606. Under the terms of the Option Agreement, the Company agreed to provide compound material for certain of their product candidates and the right for the Recipient to use the material to perform research during the term of the Option Agreement. The Option Agreement included a non-refundable up-front payment of $250 thousand. The term of the Option Agreement commenced in August 2017 and could be extended upon additional payments of $250 thousand made by the Recipient, at its option, at the beginning of each of the next two quarterly periods. In October 2017, the Company received an additional $250 thousand payment to extend the term for an additional quarterly period. In December, 2017, the Recipient terminated the agreement. In the future, the Company will seek to generate additional revenue primarily from a combination of product sales and collaborations with strategic partners. During the year ended December 31, 2017, the Company recognized $500 thousand in revenue related to the Option Agreement.

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